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6d ago

ESPN and NFL Agree in Principle on Media-for-Equity Swap

The framework moves NFL Network, RedZone and Fantasy under ESPN control for a 10% stake pending NFL owners’ and federal regulators’ approval

Feb 5, 2025; New Orleans, LA, USA; The ESPN logo at the Super Bowl LIX media center at the Ernest N. Morial Convention Center. Kirby Lee-Imagn Images/File Photo
3C2ET80 May 10, 2019 - Bristol, CT, USA - From left, Doug Kezirian, Clinton Yates and Jeremy Schaap prepare for a ''Friday Four'' episode of ESPN's ''Outside the Lines.'' OTL is one of the network's premier journalistic showcases. (Credit Image: © TNS via ZUMA Wire)
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Kirby Lee-Imagn Images

Overview

  • ESPN will acquire NFL Network, NFL Fantasy and RedZone distribution rights in exchange for a 10% equity stake in the network valued at roughly $2.2–$2.5 billion
  • The nonbinding agreement requires final negotiation and approval by all 32 NFL team owners as well as federal regulators, with potential scrutiny from the Trump administration
  • ESPN plans to fold the acquired NFL properties into its direct-to-consumer streaming service set to launch this fall, bolstering its sports lineup
  • Under the deal, ESPN will license three additional national NFL games per season to air on NFL Network and shift four existing ESPN games to that channel, which will continue to broadcast seven games annually
  • The NFL will retain ownership of NFL Films, NFL+, NFL.com, the NFL Podcast Network, the NFL FAST Channel and the digital distribution rights to RedZone