Thursday’s Opening Day may be the calm before the storm for Major League Baseball.

The league’s collective bargaining agreement with its players expires at the end of this season. Owners, with the commissioner’s backing, are almost sure to push for a salary cap (which would likely come with a salary floor to get players to the negotiating table).

MLB owners have never been able to get a cap passed by the players union. It’s unclear if the end of the 2026 season will lead to a different result, but MLB Players Association Interim Executive Director Bruce Meyer told ESPN last month he expects a lockout is “all but guaranteed.”

In addition to the CBA’s expiration, there are major shifts underway for baseball media rights. One-third of the league’s teams didn’t have local TV deals in place for this season until this week. 

Nine MLB teams – the Washington Nationals, Seattle Mariners, Milwaukee Brewers, St. Louis Cardinals, Miami Marlins, Tampa Bay Rays, Cincinnati Reds, Kansas City Royals, and Detroit Tigers – announced Wednesday their brand new MLB-operated team channels will be carried by DirecTV.

Most of those teams had previously been part of Main Street Sports (previously Diamond Sports Group), which operates FanDuel Sports Networks (previously Bally Sports). That entity has been teetering with liquidation, and the teams terminated their contracts with the company due to missed payments earlier this year.

A 10th team, the Atlanta Braves, is launching a new network called BravesVision. The Braves and Charter’s Spectrum announced a multiyear distribution agreement earlier this week. 

MLB ideally wants the rights to all 30 teams in its control by the end of the 2028 season so that it can sell the in-market local games as a national package to a streamer. That would become the modern replacement to regional sports networks, and it would likely be a new, coveted package for streaming services such as ESPN and Amazon Prime Video.

Also at the end of the 2028 season, MLB’s national media rights for all of its packages will expire, allowing the league to redistribute games to its partners and potentially select new ones. 

NBC, ESPN, Fox and a combined CBS/Turner have dominated national rights for the past few decades.

“The key in media negotiations now is having all of your rights available,” MLB Commissioner Rob Manfred told me last year. “If you have all of your content – all of your playoffs, all of your regular season – available, there will be buyers, and I’m confident there will be buyers at a higher price for us.”

Manfred has even floated the idea of expanding to 32 teams and realigning the league geographically, upending or even eliminating the American and National leagues that have existed for more than 100 years. 

And yet, baseball isn’t struggling — on the contrary. The implementation of the pitch clock in 2023 has led to shorter games, rising attendance and higher TV ratings. 

More than 50 million people in the U.S., Canada and Japan watched Game Seven of the World Series last year – the most-watched baseball game in 34 years. MLB recently wrapped up the World Baseball Classic – a global preseason tournament – which captured nearly 11 million viewers on Fox and Fox Deportes for its final game.

MLB team valuations rose 13% from last year. The average MLB team is now worth $2.95 billion, according to CNBC Sport data.

Still, the profitability of the league is in far worse shape than it is for the NFL, NBA and NHL, according to CNBC’s calculations. In 2025, MLB’s 30 teams had an EBITDA — earnings before interest, taxes, depreciation and amortization — margin of under 2%. Team average revenue was $426 million with average EBITDA of $7 million, including non-MLB ballpark events. In contrast, the comparable margin for the NFL was 20%; the NBA, 21% and the NHL, 22%, according to CNBC’s most recent valuations.

The new CBA at the end of this season could be the first significant step toward a very different MLB. But, similar to the WNBA, which announced its new CBA earlier this week, MLB must ensure negotiations to get a new labor agreement don’t jeopardize a wave of positive momentum.

Google said its fiber internet unit called GFiber is combining with Astound Broadband and forming an independent provider, with Google remaining as a minority shareholder.

The new company will be majority owned by investment firm Stonepeak and led by the existing GFiber executive team, “utilizing their expertise in high-speed fiber innovation to manage the combined network footprint,” Google said in a press release on Wednesday. The transaction is expected to close in the fourth quarter.

Google Fiber, launched in 2010, was an early effort by Google to build ultra-fast fiber-optic broadband networks in the U.S., starting with a gigabit-speed rollout in Kansas City in 2012. Google proposed building gigabit fiber connections to homes, far faster than typical U.S. internet speeds at the time.

Since then, some planned expansions were canceled and the company focused on select markets rather than a costly and time-intensive nationwide rollout.

The spinout comes at a time when demand is growing for high-capacity networks fueled by the increasing popularity of artificial intelligence services. The external capital will help the new entity expand across the country, the company said.

“This partnership with Astound and Stonepeak is the next step in our decade-long mission to redefine what customers can expect from their internet provider,” GFiber CEO Dinni Jain said in the release.

GFiber has been part of Google’s “Other Bets” segment, which includes non-core assets such as the Waymo robotaxi division and drug discovery business Isomorphic Labs. In 2025, the combined segment generated $1.54 billion in revenue, or less than 0.5% of Alphabet’s total sales, and recorded an operating loss of $16.8 billion.

The shift toward fiber infrastructure has become increasingly important as demand grows for networks that can support cloud computing, streaming and emerging AI services. U.S. tech giants are also rolling out a rapidly expanding network of transcontinental subsea cables, seeking to keep pace with growing bandwidth demand.

Astound is a major U.S. cable operator and broadband platform, which was acquired by Stonepeak in 2021 for $8.1 billion. Stonepeak specializes in infrastructure and real estate.

A Google spokesperson didn’t immediately respond to a request for comment.

WATCH: Google’s capacity advantage

Netflix CEO Ted Sarandos visited the White House Thursday afternoon for a meeting on his company’s effort to buy part of Warner Bros. Discovery — shortly before Netflix announced it would terminate the deal.

Sarandos had not been expected to meet with President Donald Trump, who days ago demanded that Netflix boot former Obama administration official Susan Rice from its board of directors “or pay the consequences.”

Trump’s threat had cited a call by right-wing influencer Laura Loomer to “kill the Netflix-Warner Bros. merger now.”

Loomer had pointed to Rice’s comments predicting that institutions that appease Trump will be held “accountable” when Democrats regain power.

“This meeting is not with POTUS,” a White House official told CNBC. “Netflix is meeting with staff members at the White House,” the official said.

After Sarandos arrived at the White House, WBD issued a statement saying that Paramount Skydance‘s new bid to buy all of the company appeared to be a “superior proposal,” to that of Netflix’s offer.

Under the terms of an agreement with WBD, Netflix had four business days to improve its bid.

But after Sarandos left the White House, Netflix issued a statement pulling the cord on the deal altogether.

“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval,” Netflix said.

“However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.”

President Donald Trump late Saturday called on Netflix to fire board member Susan Rice or “pay the consequences,” after she said Democrats would push for corporate accountability if they regain power in the November midterm elections.

In a Truth Social post on Saturday, Trump described Rice, who served as President Joe Biden’s domestic policy chief and held top foreign policy posts under President Barack Obama, as “purely a political hack” with “no talent or skills.”

“HER POWER IS GONE, AND WILL NEVER BE BACK,” Trump wrote.

Rice argued during a podcast last week that “it is not going to end well” for corporations, news organizations, and law firms that “bent the knee” to Trump, and that their deference is unpopular.

“There is likely to be a swing in the other direction, and they are going to be caught with more than their pants down,” Rice told Preet Bharara, a former U.S. attorney for the Southern District of New York. “They’re going to be held accountable by those who come in opposition to Trump and win at the ballot box.”

She added, “If these corporations think that Democrats, when they come back in power, are going to play by the old rules, and say, ‘Never mind, we will forgive you for all the people you fired and all the policies and principles you violated, all the laws you skirted,’ I think they got another thing coming.”

Rice served on Netflix’s board from 2018 to 2021, and rejoined in 2023 after leaving the Biden administration.

Netflix representatives didn’t immediately respond to a request for comment. The White House did not immediately respond to a request for comment.

Trump included a screenshot of an earlier post from far-right activist and Trump ally Laura Loomer, who said Rice’s remarks were “anti-American” and urged the president to “kill the Netflix-Warner Bros. merger now.” Loomer also tagged Federal Communications Commission Chairman Brendan Carr in her post.

The comments come after Trump told NBC News earlier this month that the Department of Justice will “handle” the deal and that he’ll stay out of their review, after previously saying he’d be involved in the process. The DOJ is currently reviewing Netflix’s proposed acquisition of Warner Bros. Discovery.

Netflix has proposed acquiring WBD in a $72 billion deal that would not include the company’s cable networks, including CNN.

Paramount Skydance, in response, launched a hostile takeover bid for all of WBD, promising its shareholders $30 per share in an all-cash deal.

The DOJ is investigating whether Netflix’s proposed deal could hurt competition, and it’s also asked how the company’s previous acquisitions have affected competition for creative talent, The Wall Street Journal reported earlier this month.

As part of its review, the agency is also examining whether the streaming giant uses anticompetitive tactics in negotiations with independent content creators for acquiring programming, Bloomberg reported, citing documents.

Netflix co-CEO Ted Sarandos said last month that he’s confident the company will be able to secure regulatory approval “because this deal is pro-consumer … pro-innovation, pro-worker.”