Maybe ViacomCBS is going to trial the Channel 5 model until the NRL/AFL/Cricket rights come up again, then go all in if it doesn’t work?
Although, in the few moths prior to the completion of the merger, CBS bought a few different sports’ rights (National Women’s Soccer League, UEFA Champions League+Europa League, renewed NFL rights, etc.), but have been quiet since the merger (prior to COVID-19).
Now 10 is owned and ran from the UK, where Viacom has spent the last 15 years without sport, and has had to build a network, Channel 5, on cheap entertainment shows without sport. Viacom, even when given the opportunity to take on sports rights (highlights and coverage), have decided against it because they can be the 5th (ironic) channel in the UK, behind BBC One, BBC Two, ITV, and Channel 4, without sport. In Australia, they can be the 3rd channel without sport, so why would they need to spend money on them. CBS wanted to and was able to spend, spend, spend, as shown by them spending what some would say was too much on the Melbourne Cup Carnival and expressing interest in the NRL and AFL rights.
I pesonally believe that 10 does the best sports coverage and ViacomCBS should really push for either, or both of, the NRL and AFL, or even the A-League. But it seems that those days are over.
But it’s smart of them to cut costs in sport, as they don’t have any major codes and won’t have any until at least 2024, counting on Seven not going under. They can easily hire some freelancers/use their news reporters/presenters on their Melbourne Cup Coverage.