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Afternoon Edition

June 10, 2025

NBA viewership had been strong this postseason, with ratings up 3% through the first three rounds. The Thunder-Pacers finals clash, however, is a different story, as the first two games are as low as we’ve seen outside of the 2020 bubble.

— Colin Salao [[link removed]], Eric Fisher [[link removed]], and David Rumsey [[link removed]]

NBA Finals Game 2 Ratings Lowest Since 2007, Excluding Bubble [[link removed]]

Kyle Terada-Imagn Images

An exciting NBA Finals opener was not enough to reel in more viewers to a lopsided second act.

Game 2 of the NBA Finals averaged 8.76 million viewers Sunday night on ABC [[link removed]], based on Nielsen numbers reported by Sports Media Watch. It’s the least-watched NBA Finals Game 2 since 2020 (Heat vs. Lakers, 7.54 million), a series played in the bubble at Walt Disney World due to the COVID-19 pandemic. Excluding 2020, it’s the least-watched Game 2 since 2007 (Spurs vs. Cavaliers, 8.55 million).

The number is down nearly 30% from Game 2 of last year’s Finals (Celtics vs. Mavericks, 12.3 million), and drew less than the 2021 series (Bucks vs. Suns, 9.38 million), which was also impacted by the global pandemic.

It’s also down from the series opener, which averaged 8.91 million viewers Thursday [[link removed]]—a game that saw Tyrese Haliburton hit a game-winner with 0.3 seconds left. The series was poised to get a viewership lift from Game 1’s exciting finish, which peaked at 11 million viewers around the time of Haliburton’s shot. However, Oklahoma City led by double figures for most of Sunday’s game, which peaked at just 9.9 million viewers.

The 8.84 million viewership average of the first two games is down at least 24% from the last three Finals, even if the first three rounds of the playoffs were up 3% entering the Finals [[link removed]].

The first two games of this series averaged less than half the viewership of the first two games of the 2018 Finals between the Warriors and Cavaliers (18.1 million), which ended with a sweep.

The Thunder and Pacers play in two of the league’s smallest markets, but NBA commissioner Adam Silver praised both ahead of Game 1, stressing the NBA’s emphasis on building a global brand.

“As a global sport, you can feel the passion for this team and for NBA basketball here in Oklahoma City, but that’s a passion felt globally,” Silver said.

This postseason had been a strong one for the league through the conference finals. NHL TV ratings have been down significantly in the U.S. this year [[link removed]], but up substantially in Canada.

FRONT OFFICE SPORTS HONORS

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Inclusive of the Rising 25 and Most Innovative awards, Front Office Sports Honors [[link removed]] showcases the individuals and organizations reshaping the business of sports.

Now in its ninth year, the Rising 25 Award [[link removed]] celebrates the brightest young stars in the business of sports and has become one of the most competitive and prestigious awards in the industry.

In partnership with Sports Innovation Lab, the Most Innovative awards spotlight the trailblazing organizations redefining the sports industry through creativity and progress—from venues and athletic departments to brands, leagues, teams, and more. See the full slate of award categories here [[link removed]].

There are less than 2 weeks remaining. Don’t wait— submit now [[link removed]].

Disney’s Hulu Takeover Sets Stage for Deeper ESPN Integration [[link removed]]

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Disney is set to own all of Hulu, advancing its already aggressive streaming interests further, but the process to get there was anything but straightforward.

The ESPN parent company said it has reached an agreement with NBC Sports parent Comcast to acquire the 33% of the general-interest streamer it doesn’t already own, and will pay an additional $438.7 million for that equity. Set to close next month, the agreement will give Disney full control of the bundle of Disney+, Hulu, and ESPN+ that is currently the foundation of its streaming presence.

Getting to the final price, however, required a third-party valuation. After originally striking the deal in 2019, Disney paid Comcast’s NBCUniversal about $8.6 billion in late 2023, reflecting a guaranteed floor valuation of $27.5 billion for all of Hulu, minus NBCUniversal’s unpaid capital call contributions.

The remaining question was how much more in fair market value Disney would need to pay to complete the agreement. An NBCUniversal appraiser submitted a valuation that would have required Disney to make an additional payment of about $5 billion, suggesting a total valuation of Hulu at nearly $40 billion. Disney, conversely, “arrived at a valuation below the guaranteed floor value,” the company said. Ultimately, the final payment took into account the valuation of a third appraiser.

Long and Winding Road

Hulu began in 2007 as an early player in a still-nascent streaming market, and initially as a joint venture between News Corp. and NBCUniversal, which was not yet owned by Comcast. Over the years, several different ownership structures for Hulu emerged, including with Disney, but those partnerships ultimately faded as each major media company pursued its own streaming strategy.

That separation then became intertwined with the lengthy Hulu valuation process. The service is now home to hit series such as Only Murders in the Building.

“Hulu was a great start for us in streaming that generated nearly $10 billion in proceeds for Comcast and created an important audience for NBCUniversal’s world-class content,” Comcast said in a statement. “We wish Disney well with Hulu.”

Disney had already placed some of its sports content within Hulu to reach a broader audience, and more such efforts are likely as the company’s streaming platforms become more interwoven with one another.

“We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck,” said Disney CEO Bob Iger in a statement. “Completing the Hulu acquisition paves the way for a deeper and more seamless integration of Hulu’s general entertainment content with Disney+, and, soon, with ESPN’s direct-to-consumer product, providing an unrivaled value proposition for consumers.”

To that latter point, the Hulu agreement also arrives as ESPN draws closer to debuting that DTC streaming service around the start of the college and pro football seasons. Upon unveiling pricing and other details for the service [[link removed]], ESPN executives said they are looking at the critical and much-anticipated effort holistically, including across its other Disney services.

“We are not going to look at one specific platform,” said ESPN chairman Jimmy Pitaro. “We want to be available across platforms, across price points.”

French Open Ratings Up 25% in TNT’s First Year, Fueled by Finals [[link removed]]

Susan Mullane-Imagn Images

TNT Sports aired its last NBA game for the foreseeable future two weeks ago. It got a little consolation from the French Open in its first year holding the tennis Grand Slam’s broadcasting rights.

The men’s final between Carlos Alcaraz and Jannik Sinner—a 5-hour, 29-minute match that was the longest final at Roland-Garros [[link removed]]—drew 1.8 million viewers Sunday on TNT and truTV, up 8% from last year on NBC, when Alcaraz also came back to defeat Alexander Zverev in five sets. It was the most-watched men’s French Open final since 2021 (Novak Djokovic vs. Stefanos Tsitsipas, 1.9 million).

The match peaked at 2.6 million viewers at around 2:30 p.m. ET, during the deciding fifth set that ended in a tiebreaker.

The women’s final on Saturday that saw American star Coco Gauff come back from a set down to defeat world No. 1 Aryna Sabalenka drew 1.5 million viewers, up 94% from the 756,000 who watched Iga Świątek’s easy win over Jasmine Paolini last year. Saturday was the most-watched women’s French Open final since 2016, the last time Serena Williams made it to the final at Roland-Garros.

It was a strong start for TNT as it began its 10-year, $650 million deal with the French Open, taking over from NBC and the Tennis Channel. The French Open saw a 25% viewership increase this year. It’s difficult to accurately assess the lift as the majority of the previous year’s games aired on Tennis Channel, which has only a fraction of the distribution of TNT [[link removed]]. The finals aired on NBC, however, which is in many more households than TNT.

Warner Bros. Discovery, TNT Sports’s parent company, announced Monday that it will be splitting into two separate entities [[link removed]]. It remains unclear exactly how sports properties will be managed between the two.

FRONT OFFICE SPORTS TODAY Understanding NFL Minicamp Holdouts

FOS illustration

NFL mandatory minicamps have begun with a slew of stars holding out, including the league’s top two sack leaders in T.J. Watt and Trey Hendrickson. NFL Network reporter Cameron Wolfe joins Front Office Sports Today with what he’s heard about the two edge rushers as well as Jalen Ramsey, Terry McLaurin, and more. He also discusses the highly incentivized contract for new Steelers QB Aaron Rodgers.

Plus, new Ravens receiver DeAndre Hopkins joins the show to discuss his expectations for playing alongside Lamar Jackson and Derrick Henry, his off-field ventures including a music label, and finding brand partnerships that align with his goals.

Also, MLB buys a stake in Jomboy Media, the WNBA’s newest franchise is set to become the most valuable women’s sports team in the world, and the NCAA releases a study on harassment during March Madness.

Watch the full episode here [[link removed]].

STATUS REPORT Three Up, One Down

Charles LeClaire-Imagn Images

Rory McIlroy ⬇ The reigning Masters champion said he shot 81 (11 over par) at Oakmont Country Club last week during a pre–U.S. Open scouting trip. McIlroy, who completed the career Grand Slam [[link removed]] in April, missed the cut at the RBC Canadian Open last week, which was his first start since finishing tied for 47th at last month’s PGA Championship. “I’m sort of just taking it tournament by tournament at this point,” he said Tuesday.

Netflix ⬆ The first fight between Canelo Álvarez and Terence Crawford on Sept. 13 in Las Vegas will be shown globally on the streaming giant. It’s the first fight of the TKO boxing league, the promotion created by TKO Group, which owns UFC and WWE, in partnership with the Saudi Boxing Federation. The fight also demonstrates Netflix’s continued push to stream live sports, particularly with the TKO Group. In January, Netflix began streaming WWE Raw [[link removed]] globally every Monday.

Arvid Lindblad ⬆ The 17-year-old Formula Two driver was granted his F1 super license Tuesday. Lindblad drives for Campos Racing, Red Bull’s junior team, and can now step up to replace any Red Bull or Racing Bull driver in F1 should they miss any time. Four-time world champion Max Verstappen will face a suspension [[link removed]] if he picks up penalty points over the next two race weekends.

Inter Milan ⬆ The Italian club is working with Oscar-winning director Spike Lee to create a new “identity manifesto.” [[link removed]] The “My Name Is My Story” effort, designed in part to promote the club to American audiences, arrives as the club will be competing in the FIFA Club World Cup, being held across the U.S.

Conversation Starters White Sox prospect Kyle Teel had an emotional phone call with his mother after he found out he was being called up for his big league debut. Watch it here [[link removed]]. Former NFL linebacker Will Compton has become a force in sports media since he retired from football. Check out [[link removed]] his story. Carlos Alcaraz has equaled Rafael Nadal with five Grand Slam titles by age 22, four more than Roger Federer and Novak Djokovic at that point. He’s also earned significantly more than the sport’s Big Three thus far. Take a look [[link removed]]. Editors’ Picks DeChambeau Set to Negotiate LIV Deal Amid U.S. Open Defense [[link removed]]by David Rumsey [[link removed]]Bryson DeChambeau confirmed his LIV contract expires in 2026. House Reps Introduce Two Drafts of Pro-NCAA College Sports Legislation [[link removed]]by Amanda Christovich [[link removed]]Both bills would satisfy the NCAA and power conferences’ congressional wishlist. Private Equity Has Arrived in College Sports [[link removed]]by Ben Horney [[link removed]]Two Power 4 schools have agreed to deals, with more to come. Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Events [[link removed]] Video [[link removed]] Shows [[link removed]] Written by Colin Salao [[link removed]], Eric Fisher [[link removed]], David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Or Moyal [[link removed]], Catherine Chen [[link removed]]

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