Apple is exploring the possibility of acquiring the broadcasting rights for Formula 1 events, prompted by the recent success of F1: The Movie, which has earned substantial box office revenue. Currently, ESPN has the broadcasting rights, but its exclusive negotiation period with F1 did not result in a new deal, leaving room for Apple's potential intervention. Citi estimates that the renewed deal for F1's rights could be worth upwards of $121 million annually, especially given the increasing viewership and popularity of the sport in the U.S.
Apple is reportedly interested in the broadcast rights to F1, following the success of F1: The Movie, which has grossed $300 million globally.
ESPN holds the current rights but did not finalize a deal during its exclusive negotiation period, allowing competition for F1 rights.
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