Sky Sports has reportedly retained the rights to broadcast the EFL in the UK until 2022.
The EFL had hoped to bring in around £180m a year from the new contract, which covers three seasons beginning in 2019-20, by offering an increase in the number of TV games available from 112 a season to 324.
According to the Daily Mail, Sky has paid £120m a season for the new deal - a modest increase on the current £90m - after BT Sport submitted a low bid and both sides refused to be drawn into a price war.
Sky and BT are thought to be conserving their funds and energy ahead of the next battle for Premier League TV rights, which is due to begin later this year.
The newspaper says that Sky is still haggling with the EFL over the precise terms of the deal and it is unclear whether the broadcaster has managed to acquire all 324 games on offer - including more than 40% of all games from the Championship - and whether it has retained the rights to the EFL Cup.