Good Morning Media!

Research evidence excerpt

Good Morning Media!

Equity Research

Industry Update — July 8, 2026

Media

Our Call Steven Cahall

Good Morning Media! is our daily take on the relevant newsflow affecting the Media & Equity Analyst | Wells Fargo Securities, LLC

Steven.Cahall@wellsfargo.com | 212-214-8240

Cable sectors.

Omar Mejias

Equity Analyst | Wells Fargo Securities, LLC

World Cup bidding war. NFLX, DIS and GOOGL's YouTube are interested in challenging Omar.Mejias@wellsfargo.com | 787-370-9353

FOX for US rights to the 2030 and 2034 World Cups, with media execs budgeting ~$1.5- Wojtek Majerczak

$2.0bn per tournament. FIFA is likely to bundle English- and Spanish-language rights, Associate Equity Analyst | Wells Fargo Securities, LLC

unlike 2026, when FOX paid $485mm and CMCSA's Telemundo paid ~$600mm. AMZN Wojtek.Majerczak@wellsfargo.com | 212-214-5480

and AAPL could also enter, as streamers eye the live global event for subs and ads; talks Christopher Pei

are expected to begin in the next three months. (Source: CNBC) Associate Equity Analyst | Wells Fargo Securities, LLC

Christopher.Pei@wellsfargo.com | 212-214-5308

Bad habits, new label. According to THR, Ed Sheeran is set to sign a long-term record

deal with UMG's Interscope after leaving longtime label home WMG earlier this year.

The deal reunites Sheeran with Interscope CEO John Janick, who previously worked with

him at Warner's Elektra, after Sheeran also drew interest from Sony. Sheeran remains a

top streaming/live draw, ranking No. 6 on SPOT's all-time artist list with 83mm monthly

listeners and the No. 3 grossing tour. (Source: THR)

DistroKid gets adopted. CVC Capital Partners agreed to acquire a majority stake in

DistroKid, with Insight Partners retaining a significant minority stake and Phil Bauer

staying on as President.