While all the X Games competition and action is currently going down in Aspen this weekend. Off the snow, in corporate land, where halfpipes are spreadsheets and big air is the end of week tequilla shot…ESPN is exploring the sale of X Games.
COVID and no crowds at this years event, ESPN is putting out the franchise to potential buyers as part of a wider review of its assets.
Forbes highlighted that ESPN is considering two scenarios for a sale of X Games – First, ESPN would sell all broadcasting right to X Games events and retain handling the production (hopefully this means free streaming of the entire event, not drips and drabs which is what is current). Second, ESPN would sell the entire intellectual property to X Games.
It could be really cool to see X Games in the hands of another buyer! Is it just us, or have things gotten a little stale? $50 million and it could potentially be in the hands of somebody else.
Reason for the sell? Forbes reported that ESPN is reevaluating its cable TV business, which has taken a hit with the sudden rise of streaming platforms that are continuing to grow. ESPN’s ratings have fallen to a 41 year low…ouch.