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Illustration: Sarah Grillo/Axios

The PGA Tour has struck a 9-year rights deal with CBS Sports, NBC Sports and ESPN for around $680 million, Variety reports.

Why it matters: The value of distributing professional golf in the U.S. is increasing as more TV networks clamor to hold live sports rights. In the streaming era, live sports are keeping traditional TV alive.

  • Up from roughly $400 million in its last TV distribution deal, it awards broadcast rights to CBS and NBC and digital rights to ESPN+, ESPN's subscription sports streaming service.
  • Previously NBC aired PGA Tour Live's subscription package through its NBC Sports Gold package. Now, those rights are moving to ESPN+.
  • NBC's Golf Channel will remain the cable distributor for The PGA Tour.

The big picture: The PGA Tour, perhaps better than most leagues, has been finding ways to capitalize on the sports streaming rights frenzy in the U.S. and abroad.

  • In 2018, the PGA Tour and Discovery launched the first-ever professional golf streaming service internationally via a 12-year partnership.
  • Last week, it announced a partnership with sports betting outlets The Action Network to launch GolfBet, a first-of-its-kind, golf-focused betting content platform.

Go deeper

Kendall Baker, author of Sports
1 hour ago - Sports

2021 Tokyo Olympics hang in the balance

Illustration: Aïda Amer/Axios

10 months ago, the Tokyo Olympics were postponed. Now, less than six months ahead of their new start date, the dreaded word is being murmured: "canceled."

Driving the news: The Japanese government has privately concluded that the Games will have to be called off, The Times reports (subscription), citing an unnamed senior government source.

Biden's centrist words, liberal actions

Illustration: Sarah Grillo/Axios

President Biden talks like a soothing centrist. He promises to govern like a soothing centrist. But early moves show that he is keeping his promise to advance a liberal agenda.

Why it matters: Never before has a president done more by executive fiat in such a short period of time than Biden. And those specific actions, coupled with a push for a more progressive slate of regulators and advisers, look more like the Biden of the Democratic primary than the unity-and-restraint Biden of the general election.

3 hours ago - Technology

Review of Trump ban marks major turning point for Facebook

Photo Illustration: Aïda Amer/Axios. Photo: Saul Loeb/AFP via Getty Images

Facebook's decision to ask its new independent Oversight Board to review the company's indefinite suspension of former President Trump is likely to set a critical precedent for how the social media giant handles political speech from world leaders.

What they're saying: "I very much hope and can expect … that they will uphold our decision," Facebook's VP of global affairs Nick Clegg tells Axios.