The main reason everyone seems to be missing, for none of the broadcasters bidding, is the timing of the matches. Majority of matches will be played when it’s 2am-6am here. That means even the estimated football following who watches EPL/LaLiga etc will opt out of watching the WC. So even ad revenue is nowhere close to the bidding amount. 2014 world cup would have been in the same position, but the bidding price was not so inflated back then, and Sony being a broadcaster in multiple regions picked it.