Paramount Skydance has reached an agreement to acquire Warner Bros. Discovery in a deal valued at $110 billion in enterprise value. The merger would unite CBS with TNT Sports and consolidate major sports rights including the NFL, NHL, UFC and college football under one media giant.
NHL Commissioner Gary Bettman is enthusiastic about the potential move particularly the opportunity it presents for hockey to reach broadcast television audiences through CBS.
Speaking with Puck’s John Ourand on “The Varsity” podcast, Bettman made his position clear when discussing the merger and its implications for the league.
“I can’t wait to meet David Ellison and talk about those things,” Bettman said, referring to Paramount’s CEO and the prospect of NHL games airing on CBS.
“I would be very excited to see the opportunity that being with CBS and CBS Sports would present. I think for the NHL, what’s happening with Paramount and Warner Bros. Discovery is potentially very good for us. So, consider me a fan,” he added.
TNT Sports currently holds rights to air the Stanley Cup Final in alternating years with the next scheduled broadcast coming in 2027. That timeline aligns neatly with the merger’s projected closure in the third quarter of 2026 pending regulatory approval and shareholder votes. The opportunity to shift those championship games from cable to CBS’s broader reach is exactly the kind of visibility upgrade Bettman has long pursued.
Gary Bettman acknowledged it’s not an uncomplicated win for the NHL
Gary Bettman though wasn’t selling the merger as an uncomplicated win. During his conversation with Ourand, he weighed the benefits of consolidation against the league’s current multi-platform approach.
He acknowledged that fewer broadcast partners means fewer places promoting the sport.
“On the one hand, it’s very fan and user friendly,” Bettman explained. “But if you’re on six or seven outlets, you get promoted in six or seven places. I’m not complaining, and I do believe that ESPN/Disney and Warner Bros. Discovery do a great job promoting us, but the more places you are, the more visible you are.”
The NHL’s current media rights agreements with ESPN and Warner Bros. Discovery run through the 2028 season and reportedly generate a combined $625 million annually. League officials have floated the idea of accelerating negotiations on new deals though both networks appear reluctant to commit until the NFL sets the market with its own upcoming rights talks.
The reality of sports media economics wasn’t lost on Bettman, who knows where his league sits in the pecking order.
“Obviously, the NFL gets to call the shots in this marketplace,” he said. “So we’ll have to wait and see what happens.”
The merged entity would control an expansive portfolio of sports rights including the NFL, Olympics, NHL, UFC, Big Ten and Big 12 conference football, NCAA basketball tournament and Champions League soccer. Paramount CEO David Ellison has already signaled plans to maximize that inventory mentioning in previous statements that properties like UFC would gain flexibility to appear across the combined network’s various platforms once the transaction closes.
Edited by Anjum Rajonno
