Fox is in "very, very early discussions" about renewing its television rights deal with the NFL.

The current rights owned by Fox expire after the 2022 season. Fox renewed its existing deal in 2011 at $1.1 billion annually. 

“Give me the NFL, the ability to have that kind of programming,” Fox Corp. COOO John Nallen said. “That’s where the focus should be.”

Average annual value, he continued, “is a press headline that makes it great on the sports pages. But it really has no relevance to the business. If I took the AAV of my affiliate revenues, you’d say, ‘Wow, that’s fantastic.’ But you always measure me on how I did last quarter, never mind last year, compared to this quarter.”