NFL and ESPN reach nonbinding agreement for sale of NFL Network and other media assets
Summary
The NFL and ESPN have reached a preliminary agreement where ESPN will acquire NFL Network, NFL Fantasy, and rights to distribute the RedZone channel. The NFL will receive a 10% ownership stake in ESPN. A final agreement requires approval from NFL owners and regulatory bodies.Key Facts
- ESPN plans to buy NFL Network, NFL Fantasy, and distribution rights for the RedZone channel.
- The NFL will get a 10% share in ESPN as part of this deal.
- A final deal needs approval from NFL owners and regulatory authorities.
- ESPN's new streaming service is expected by the end of September, costing $29.99 monthly.
- NFL Network, with 50 million subscribers, will be part of ESPN's streaming service.
- ESPN will manage the distribution of the NFL RedZone channel but the NFL will keep producing it.
- NFL Fantasy Football will merge with ESPN Fantasy Football.
- The deal includes licensing various NFL content to ESPN.
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