The potential that Google will bid for rights to the NFL's "Sunday Ticket" package would be a game changer, OptionMonster's Pete Najarian said Wednesday.
"I think this could be huge," he said. "When you really look at what they have done to increase their content, look at what Netflix has done, the acquisition of YouTube was phenomenal."
Google has held meetings with the National Football League, the NFL said.
At stake could be the rights to broadcast NFL games, for which DirecTV reportedly pays $1 billion per year.
(Read more: Google, feeling lucky, may bid for NFL Sunday Ticket)
On CNBC's "Fast Money," Najarian said any potential deal would be big.
"You're talking a billion-plus a year because the present deal is for a billion a year," he said. "What's it going to be if you get a few bidders coming in there?"
(Read more: Google 9 years after IPO: Buy, sell or hold?)
Jon Najarian agreed.
"We all know that the second screen is indeed your smartphone, your tablet and all," he said. "I think people want to view sports that way, not just football, but it's huge for football."
The potential boon for advertisers – and gambling – would also be significant, he added.
"I don't think you can dismiss how popular this would be with advertisers, the ability to target more directly these folks that are watching the games and so forth," he said. "And it does open up the line for betting, even more so, online."
Stephen Weiss saw potential headwinds for traditional broadcasters.
"But what it also does is it raises the cost of content, of course, for all the others, not just Dish. For the cable companies, for the broadcasters," he said.
(Read more: Buybacks vs. dividends: Bill Nygren)
"So, you've got to watch those stocks in terms of the historical valuation. Couple that with more advertising dollars, according to a survey that just came out, going into the internet that you're going to have some problems these. So, I think you've got to be careful about the ones you own."
Brian Sozzi of Belus Capital Advisors said any Google-NFL deal could disrupt other sectors, too, such as Electronic Arts.
(Read more: 'I'd stay the course,' Vanguard's Jack Bogle says)
The video game maker sells in-game advertising spots for popular sports titles.
"I think Disney will ultimately acquire Electronic Arts because of these increased revenue streams," Sozzi said.
Trader disclosure: On Aug. 21, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long GE; Pete Najarian is long PFE; Pete Najarian is long MRK; Pete Najarian is long LLY; Pete Najarian is long BMY; Pete Najarian is long MNKD; Pete Najarian is long SUNE; Pete Najarian is long KWK; Jon Najarian is long AAPL; Jon Najarian is long EBAY; Jon Najarian is long GRPN; Jon Najarian is long MSFT; Jon Najarian is long QCOM; Jon Najarian is long MSG; Jon Najarian is long TOL; Jon Najarian is long JCP; Jon Najarian is long HLF; Jon Najarian is long CREE; Steve Milunovich is long AAPL; Steve Milunovich is long UBS.