Moody's: NFL deal with CBS, Fox, NBC is positive

Moody's Investors Service said that the National Football League's deal with the CBS, Fox and NBC networks is positive for their parent companies' credit profiles in that the deal provides additional revenue opportunities and, most important, avoids a long-term negative when weighed against the alternative.

Moody's said though the deal is costly, the networks had no choice but to pursue and maintain their NFL rights.

It would have been catastrophic if they did not; if another bidder such as an "over the top" bidder were to have deep enough pockets to afford the rights, it would have been the watershed event that negatively changed the landscape for television entertainment delivery and likely led to more such losses of exclusive sports programming, according to the agency.

Moody's said it believes that the deal, which is consistent with its expectations, will not affect credit ratings for each of their investment-grade parent companies.

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