CW coverage of LIV Golf will not be affected by Upstart Alliance Merger with PGA Tour.
There are no changes to the LIV golf schedule for 2023 on the CW. We look forward to covering seven more exciting tournaments this year featuring some of the best golfers in the world,” The CW told The Hollywood Reporter ..
In a surprise move unveiled Tuesday morning, the PGA Tour is merging with Saudi-backed start-up rival LIV Golf. The agreement creates a new “collectively owned for-profit entity to ensure that all stakeholders benefit from a format that generates maximum excitement and competition among the game’s best players,” the group said.
As reported by THR , the merger creates more opportunities for the combined TV space Efforts.
There has been a long-running feud between the PGA Tour and LIV Golf, the latter (almost entirely funded by
Saudi Arabia ’s sovereign wealth fund PIF) poachs high-profile PGA golfers with guaranteed contracts. LIV files antitrust lawsuit against PGA Tour, PGA counterclaims that PIF does manage LIV’s day-to-day operations.
LIV Golf is the CW’s first foray into sports. The network was previously a joint venture between Paramount Global’s CBS Studios and Warner Bros. Discovery’s Warner Bros. TV, which was sold to the network group late last year Nexstar . Respectively reserved by CBS Studios and WBTV 12.5 % of network shares.
Nexstar is reshaping the network to make it profitable. The network was never designed to be profitable, but as its parent company through streaming deals and foreign sales source of revenue. With the launch of Paramount+ and Max, both dried up, CBS Studios and WBTV sold the networks.
The CW Obtained the TV rights to LIV Golf in January this year and reached an agreement with this year’s 12 event. The events haven’t gone well for The CW, which recently drew the ire of golf fans after the network cut a close match.