NASCAR's latest TV deal shows just how addicted networks are to live sports

The cost of broadcasting live sports has exploded.

As the looming threats ofdeclining ratings and subscriber losses weigh on traditional TV networks, live sports have been a central component of strategies aimed at gaining and retaining existing revenue bases.

Networks like ESPN and Fox have sunk billions of dollars into securing the rights to broadcast must-see sporting events, and the cost of securing these rights hasskyrocketed over the past few years.

And for an example of just how important live sports has become to networks look no further than the recent deal NASCAR struck with Fox and NBC.

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