The NFL is taking a minority stake in ESPN of 10% in exchange for the NFL Network and other media assets, the companies announced Tuesday
The National Football League is taking a minority stake in ESPN of 10% in exchange for the NFL Network and other media assets, the companies announced Tuesday.
As part of the deal, ESPN will take control of the NFL Network, its linear RedZone Channel and NFL Fantasy. The parties are also entering into an agreement for the NFL Network and other assets to license the league’s content and IP. Disney currently owns 80% of ESPN, while Hearst owns the remaining 20%.
The deal would give ESPN broad rights to the RedZone brand and distribute the NFL RedZone channel to pay TV operators for continued inclusion in their sports packages. ESPN’s platforms would also license an additional three NFL games per season to air on NFL Network and adjust its game schedule to have four games shift to the NFL Network, which will continue to present seven games per season.
The league will continue to own and operate NFL Films, NFL+, NFL.com, the NFL Podcast Network, the NFL FAST channel and the official sites for the league’s 32 clubs. It will also continue to own, operate, and produce NFL RedZone and retain the rights to distribute NFL RedZone digitally.
“Since its launch in 2003, NFL Network has provided millions of fans unprecedented access to the sport they love,” said NFL Commissioner Roger Goodell said in a statement.
