Report: Big Ten finalizing deal with Fox Sports, CBS, NBC

The Big Ten is finalizing media rights deals with Fox Sports, CBS, and NBC, sources told Brett McMurphy of Action Network.

Once finalized, this will mark the first time in 40 years that ESPN won't have the rights to Big Ten football and basketball games. ESPN pulled out of talks after rejecting a final offer from the conference of a seven-year deal worth $380 million annually, reports John Ourand of the Sports Business Journal.

Fox locked up Big Ten rights months ago, and the conference is now prioritizing exclusive windows during negotiations, which could result in a Saturday slate with a noon ET game on Fox, a 3:30 p.m. contest on CBS, and a prime-time tilt on NBC, reports The Athletic's Nicole Auerbach.

CBS is expected to pay around $350 million per year to the Big Ten as part of the agreement, sources told Andrew Marchand of the New York Post.

The Big Ten is also expected to launch a streaming package, which will go to Amazon or Apple, reports Auerbach.

On June 30, Pac-12 powerhouses USC and UCLA announced their agreement to join the Big Ten as early as 2024.

The Big Ten is expected to be the first conference to top $1 billion annually in rights fees as part of its next media rights deals, according to Ourand.