It was an “uneconomic deal.”
That’s how CBS topper George Cheeks described the decision to say goodbye to the Grammy Awards ceremony, which has aired on the network for more than 50 years. In October, Disney snatched the rights to the annual music awards show in a 10-year pact.
It was a major loss for Paramount, but Cheeks told reporters Wednesday that “we just weren’t prepared to make an uneconomic deal.”
“My very strong view is that you have to take a very disciplined approach to all of these negotiations,” Cheeks said. “We’ve had a great relationship with the Grammys. We’re excited for them, and you know, we wish Disney/ABC all the best.”
Cheeks then touted CBS’ “robust” slate of upcoming specials that includes the Golden Globes hosted by Nikki Glazer. “I’m sad to see [the Grammys] go, but I really do feel like, ultimately for us, it was the right decision.”
When asked by a reporter if ABC made a bad deal, Cheeks replied, “I did not say that. I just said the economics are different at every company. For us, it would have been uneconomic.”
The Grammys will air on ABC, Hulu and Disney+ starting in 2027.
CBS had previously struck a ten-year deal in 2016 to keep the rights through to 2026, breaking the record for a broadcast partnership between an awards show and broadcaster. The network has been home to the awards since 1973, when it snapped up the rights from ABC, which aired the show in 1971 and 1972. NBC previously aired it between 1959 and 1970.
CBS and The Recording Academy did not reach an agreement within the two sides’ exclusive negotiating window but CBS remained interested in retaining the Grammys, with talks continuing after the end of the exclusive period when the Academy also opened negotiations with other interested parties. Ultimately, Disney submitted the winning bid.
