Paramount Beats Amazon With $1.5 Billion Deal for Champions League Rights

Paramount Global renewed its US media rights to Champions League football matches in a deal valued at more than $1.5 billion over six years, more than doubling the size of its previous contract in a sign of the sport's growing popularity with Americans.

The owner of the CBS network and Paramount+ streaming service will air the annual tournament featuring Europe’s top football teams under a new agreement that runs from 2024 to 2030. Paramount will pay about $250 million per year, up from about $100 million a year under the prior deal, according to people familiar with the matter.