Disney acquired NFL Network and other media assets following landmark deal with the NFL
Both parties announced that the deal is currently subject to regulatory approval.
Logos of The Walt Disney Company, ESPN and Hulu next to a TV remote control.
ESPN, which is owned by Walt Disney, announced Tuesday a landmark deal Tuesday with the National Football League (NFL) to acquire both the NFL Network and other league media assets. In exchange, the NFL will take a 10% equity stake in the sports network. The agreement is subject to regulatory approval.
While financial terms were not disclosed, ESPN said that the deal would significantly strengthen its upcoming streaming service. Disney CEO Robert Iger added that the sports network will also acquire a popular NFL Fantasy digital platform and gain rights to distribute the NFL RedZone channel to its cable TV customers. "Today’s announcement paves the way for the world’s leading sports media brand and America’s most popular sport to deliver an even more compelling experience for NFL fans, in a way that only ESPN and Disney can," Iger said in the statement, adding that the ESPN streaming service will cost $29.99 a month.
ESPN president Jimmy Pitaro said in another statement that "By combining these NFL media assets with the reach and innovation of ESPN, we’re creating a premier destination for football fans." NFL commissioner Roger Goodell added, "The network’s sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways.
The parties have not revealed the financial terms of the agreement
So far, neither Disney nor the NFL has disclosed financial details of the agreement. Under the terms of the deal, ESPN will own and operate all television and streaming rights to NFL Network, which will continue broadcasting seven games per year. The league, meanwhile, will retain ownership and production of NFL RedZone, as well as all rights to distribute it digitally.
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