Yesterday, tens of millions of people tuned into the biggest sporting event of the year,

the Super Bowl.

It's there!

Jack Pot, Kansas City!

But a few days before the event, the National Football League was blindsided by some major news.

E.S.P.N. Fox and Warner Brothers Discovery

announced they're teaming up to create a new streaming service, a venture that by some estimates

will include more than half of US sports rights.

Our colleague Joe Flint says the deal had been top secret.

When they were developing this, it was Project Raptor.

Raptor was the code name for the development of this streaming service.

I don't know why Raptor, but that was it.

Why are they teaming up?

What's behind this?

Well, these are dinosaurs trying to figure out

how to stop the meteor storm from killing them.

Cable subscriber growth, well, that's an oxymoron, the number of cable

subscribers are going down and with that means less revenue from subscribers, less revenue from advertisers.

So these companies recognize that they need to pivot to the future,

which is streaming.

In many ways, you know, it's a Hey O' Mary.

Welcome to the journal, our show about money, business, and power.

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