I think a summary might be that: 1. ESPN historically was making way more money than they should due to bundling. 2. ESPN is passing along a large percentage

I think a summary might be that: 1. ESPN historically was making way more money than they should due to bundling. 2. ESPN is passing along a large percentage of this money to the sports teams in the form of media rights (aka they pay the NFL teams to show Monday Night Football). 3. ESPN is now on a downward path due to people opting out of bundles. 4. Sports teams will make less money overall after this shakes out as ESPN artificially bid up the market.