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NFL Finalizes Equity Deals With ESPN and CBS, Executives Promise Arms-Length Partnerships

Executives promise journalistic autonomy following equity swaps with ESPN, CBS

East Rutherford, NJ - September 11, 2023 - MetLife Stadium: Jimmy Pitaro, NFL Commissioner Roger Goodell with Joe Buck and Troy Aikman after ceremony for record 22 years in the booth together prior to Monday Night Football. (Photo by Allen Kee / ESPN Images)
Matthew Huang_Icon Sportswire via Getty Images (1)

Overview

  • The NFL completed an equity-for-asset swap giving ESPN ownership of NFL Network in exchange for the league’s 10% stake in the network
  • Through its involvement in Skydance Media’s merger with Paramount Global, the NFL also secured a minority equity stake in CBS
  • ESPN president Jimmy Pitaro and NFL executive Hans Schroeder said future media rights negotiations will be held at arm’s length without preferential treatment
  • Disney CEO Bob Iger reaffirmed that ESPN’s approach to journalism will remain unchanged despite the NFL’s new ownership position
  • Podcast host David Samson and other critics have raised concerns that the league’s financial ties could influence ESPN’s NFL coverage