The NFL has reached an agreement to take 10 % of the ownership share in the Walt Disney Company’s ESPN, the League and Disney on Tuesday evening, which is expected to strengthen the media outlet relations in the coming years.
Based on the company’s current prices, the ESPNFL’s Cable Properties will occupy the popular channel, including the NFL network and the Red Zone, in exchange for an equity stack worth more than $ 2 billion, which constantly updates fans on the slate of Sunday. The NFL network also has seven regular season games.
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In addition to the sale of NFL network, NFL and ESPN are also entering the other non -binding agreement, under which NFLNFL network and other assets will license some NFL content and other intellectual properties on ESPN.
The agreement is a major win for ESPN Chairman Jimmy Pataro, who assumed the Disney Unit in 2018. With mandate Improve the company’s relationship with the NFL.
The Equity Stack is ahead of the ESPN move in a direct series of direct consumer business this fall this fall, which gives consumers the opportunity to buy company sports channels without cable or satellite TV membership. The NFL will also be available on the Network Streaming Service.
“This is an interesting day for sports fans,” Pataro said in a statement on Tuesday. ” “By combining these NFL media assets with ESPN’s leakage and innovation, we are creating an important destination for football fans. Together, ESPN and NFL are explaining how fans engage with games.
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The new product aims to regain sports fans who are leaving cable and satellite services. ESPN has seen a reduction in cable by about 72 million homes in 2013 as a result of bone cuts.
“Today’s announcement paved the way for the world’s leading sports media brand and the most popular sports in the United States to provide even more compulsive experience for NFL fans for the most popular sports, Disney’s chief executive Bob Egger said in a statement.
Read more: Can Espn Cable survive during TV’s death?
The current NFL deal with the ESPN has “Pir Night Football” and two Super Bowl Games broadcasting rights that continue until 2033 but is expected to be reopened in 2029.
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Agreement with Disney means NFL’s other partners – Fox, NBC, CBS, UTube And Amazon – The league has a financial interest in the next time the media rights are revealed.
Fox Corporation’s Executive Chairman, Lucalin Marduk, told Wall Street analysts on Tuesday that he was not worried that the NFL partnership with ESPN would affect his network’s stand with the league.
“We have a tremendous relationship with the NFL.” We appreciate that they are fans of broadcast and cable networks, and we look forward to working with them and looking forward to deepening our relationship with them. “
This story originally appeared Los Angeles Times.
