A detail view of an ESPN logo is seen on a broadcast tv camera at Q2 Stadium in Austin, TX. Robin Alam | Icon Sportswire | Getty Images
Walt Disney‘s ESPN has reached a landmark deal with the National Football League to acquire NFL Network and other media assets from the league in exchange for the NFL taking a 10% equity stake in the sports network, the parties said on Tuesday.
The deal, which ESPN said would bolster the offerings on its upcoming ESPN streaming service, is subject to regulatory approval. Financial terms were not disclosed.
ESPN also will acquire NFL Fantasy, a digital offering, and will gain the rights to distribute the NFL RedZone television channel to its cable and satellite television 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,” Disney CEO Robert Iger said in a statement.
The Athletic, which first reported last week that a deal was imminent, said it could potentially be worth billions of