From today's WSJ



The first signs that sports programming may have hit its peak are now appearing in the public markets. An activist investor doesn't make a proposal lightly, and in some very smart peoples' minds, ESPN has reached its zenith, so it's time to package up ESPN with all of Disney's debt and send it off into the sunset. In their proposal, Disney should lock up a partnership for content, but exit the sports broadcasting business.

If this is something that Disney considers seriously, it will have a tremendous impact on the valuations that all sports leagues put on their broadcast contracts. If it actually comes to fruition, it will decimate the lower tiers of college athletics.