ESPN closed a blockbuster deal to acquire some of the NFL’s most valuable media offerings, including NFL Network and broadcasting rights to the RedZone brand, after receiving regulatory approval, the two parties said late Saturday night. The deal will combine some of the most prominent destinations for football watchers and represents a major shift in the American sports media landscape.
As part of the deal, the NFL will also acquire a 10 percent stake in ESPN, which is owned by the Walt Disney Co.
“As we look to the future, NFL fans can look forward to expanded NFL programming, greater access to NFL Network, innovative Fantasy experiences and unparalleled coverage of America’s most popular sport,” the NFL and ESPN wrote in a joint statement.
The Justice Department and “several non-US antitrust authorities” approved the deal, according to a person familiar with the matter, who spoke on the condition of anonymity to share details about the sensitive regulatory process.
The two sides announced they had reached a tentative “nonbinding” agreement in August, noting the deal was subject to “subject to the parties’ negotiation of definitive agreements, various approvals including by the NFL team owners, and customary closing conditions.”
At the time, Disney chairman and chief executive Bob Iger said the deal would “add to consumer choice, provide viewers with even greater convenience and quality, and expand the breadth and value proposition of Disney’s streaming ecosystem.”
The NFL’s team owners voted at their October meeting to approve the deal, but it received regulatory approval much sooner than previously expected. Hugh Johnston, Disney senior executive vice president and chief financial officer, said during an earnings call in August that the deal probably would not close until the end of 2026.
As part of the agreement, Disney has acquired the NFL’s fantasy football platform, which it will integrate into ESPN’s own platform by the start of next season; ESPN will also take over the lease of the NFL’s studio facility in the Los Angeles area.
The deal closes one week ahead of Super Bowl LX on Feb. 8, between the Seattle Seahawks and the New England Patriots, which will air on NBC. The two parties said nothing will change for Super Bowl coverage, and fans should not notice any changes until April, the month of the NFL Draft.
The Justice Department did not immediately respond to a request for comment.
The post ESPN closes deal for NFL Network following regulatory approval appeared first on Washington Post.
