Fox, Telemundo pay $1 billion for World Cup rights

Fox's $425 million bid for the 2018 and 2022 competitions beat out ESPN's $400 million, The Wrap is reporting. Telemundo will pay $600 million for Spanish-language U.S. rights. You may recall that ESPN had the rights in 2010 and 2014.

In keeping with its typical line of explanation, ESPN said it remained "disciplined" but "aggressive." That's code for "we got outbid and didn't want to spend as much as it would have taken." Meanwhile, Fox's deal means that it not only gets the men's World Cup, but all FIFA events from 2015-2022. That includes the women's World Cup, as well as the under-20 and under-17 national team competitions.

Press conference is set for later today.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
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