Fox and ESPN sign TV deal for Pac-12 conference

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ESPN and Fox have teamed up for a new TV rights deal for Pac-12 conference football and basketball.

The deal, which will be formally announced on Wednesday, runs 12 years and is valued at about $3 billion, a person with knowledge of the pact said. The Pacific-12 conference includes USC, UCLA and Stanford University.

ESPN, which is majority owned by Walt Disney Co., and News Corp.’s Fox will split the cost of the rights fee. Both will get about 22 football games. ESPN will get the majority of the basketball games.

Fox will not only carry games on its cable channel FX, it will also put Saturday afternoon regular season college games on its broadcast network as well.

-- Joe Flint