(CNBC) -- NFL owners and the NFL Players Association are likely nearing a collective bargaining agreement after owners approved the terms Thursday. Media companies and the NFL have been waiting for the CBA’s approval before negotiating new broadcast rights for NFL games, which are locked up until 2022.
The results will have a major impact on traditional media as millions of Americans cut the cord on pay-TV each year. Owning live football games is crucial for networks like ESPN to charge expensive affiliate fees to pay-TV distributors, and for Fox and CBS to remain viable against deeper-pocketed competitors like Disney and Comcast.
The NFL knows this, and is expected to jack up renewal rates on all of its major broadcast packages -- Thursday night, Sunday afternoon, Sunday night and Monday night, according to people familiar with the matter who asked not to speak publicly because negotiations are private.
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