This is simply peak capitalism. It speaks of a 'free market' but its never been that. Some will always be too big to fail. A true free market would see Real and Barca cease to exist because of their financial mistakes and two other Spanish clubs take their place. However there is no free market. Just like in every facet of business. The 'free market' is a fecking lie sold to the stupid.
Its business optimisation process.
There is a shift in power from the traditional structures of traditional broadcasters; from terrestrial broadcaster like the BBC (in the past) to the previous new (satellite) SKY --- to now the likes of digital broadcasters like BT but on a bigger scale, players like Amazon, Netflix, Google who can deliver content cheaper than via the expensive satellites.
The other shift can be seen in content makers pulling back power back into their own hands away from the powers of the broadcasters.
So folks like Disney started taking control of their own content. I always have thought that ''content is king''/ top of the pyramid -- and always wondered why content makers always seemed to have relented their powers to the delivery guys. So the Big 12+ who like Disney recognised the shift, and are trying to pull back control of their own content and maximise their powers and profitability. And its not the Glazers who are that crazy. United along with Spurs and Arsenal were the original breakaway clubs from the old Division One. So things change and yet they remain the same. The usual suspects.
This is an evolutionary step. Not some radical revolution.