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I suppose you're right re: getting more major networks. I just have a hard time believing that the networks as they are today didn't have room for five power leagues when they've had time the last 40 years on linear TV. And today they have tons of extra channels (FS1, ESPN2, ESPN3, ESPNU, ESPNews) to spread content across.

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Streamers can absorb a massive amount of content but production is what's expensive. Fortunately the Pac-12 Network is high-quality but funded by a garbage revenue plan. That's part of the value baked into the PAC remnant. It's not clear how that asset would be handled at the end.

ESPN+ is unique because it has a subscription model that is complimentary to ESPN's linear programming. Maybe we'll see Apple or Amazon partner with an existing network with a struggling streaming network or a network that wants a turnkey entry into the space.

Right now, we're seeing early-mid-20th century baseball where the AL and NL (B1G and SEC) expanded westward. There was the PCL and Negro League which were effectively AAAA-level. I think the market may be "thick" enough to support a AAAA level but it won't be able to compete with the majors very easily.

People have said that some European soccer leagues are set up this way but I don't really watch European soccer.

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