Guess: Franchises have more flexibility in their revenue model. Somebody will be bidding billions for broadcast rights whether OTA, premium cable, or streaming.

Guess: Franchises have more flexibility in their revenue model. Somebody will be bidding billions for broadcast rights whether OTA, premium cable, or streaming. ESPN has a ton of inertia to overcome and an uncertain future if they can't rely on an ever-growing "bundled" subscriber base.