Illustration: Rebecca Zisser/Axios

The emergence of three undefeated heavyweight kings — Deontay Wilder, Tyson Fury and Anthony Joshua — has coincided with a revolution in the way boxing is broadcast in America.

Why it matters: The sport's top three heavyweights are now affiliated with three different platforms. And, with the traditional pay-per-view model under threat, all three are betting on slightly different business models to lead them into the future.

  • Good news: This has led to an uptick in well-promoted fights and an increase in overall exposure for the sport.
  • Bad news: In the past, rival broadcasters would work together by putting on a pay-per-view fight and splitting the proceeds. Now, it's not that simple. Result: Wilder, Fury and Joshua are all fighting, but they're not fighting each other.

The backdrop: HBO left the boxing business last year, creating a gigantic void that has since been filled by Showtime (an incumbent that doubled down), ESPN and streaming startup DAZN.

1. Showtime

  • Heavyweight: Deontay Wilder (USA)
  • Last fight: Wilder knocked out Dominic Breazeale in the first round earlier this month.
  • Business model: The Wilder-Breazeale fight was free for Showtime subscribers ($11/month).
  • Biggest advantage: The ability to draw in casual fans who are already on their platform.

2. ESPN

  • Heavyweight: Tyson Fury (England)
  • Next fight: Fury vs. Tom Schwarz (June 15)
  • Business model: The Fury-Schwarz fight will be free for all ESPN+ subscribers ($5/month), but that's only because it's not that big of a fight. The bigger ones will only be available on pay-per-view.
  • Biggest advantage: Same as above.

3. DAZN

  • Heavyweight: Anthony Joshua (England)
  • Next fight: Joshua vs. Andy Ruiz Jr. (Saturday, 9pm ET)
  • Business model: All of Joshua's fights will be free for DAZN subscribers ($20/month).
  • Biggest advantage: While DAZN lacks the same ability to draw in casual fans, it's building a stable of fighters alongside Joshua (most notably, Canelo Álvarez) in an attempt to become the home for boxing diehards.

🚨 Just in: Wilder announced last night that his next fight will be a rematch with Luis Ortiz, meaning his long-awaited title fight against Joshua won't happen until at least next year.

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What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

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