Part 3/9:
In February 2025, Disney's earnings report revealed ESPN's operating income had dropped to $788 million, a 6% decrease from the previous year. This decline occurs against the backdrop of a $4.3 billion revenue stream which has only seen a minimal yearly increase of around 2%. The precarious situation is further compounded by the escalating costs associated with sports rights, particularly the staggering $2.7 billion commitment for NFL broadcasting.