Disney's ESPN to acquire NFL media assets in landmark deal
:: Kansas City Chiefs
In exchange, the NFL will take a 10% equity in the sports network.
Both parties on Tuesday confirmed the deal, which is still subject to regulatory approval.
The Athletic, citing sources, reported it could potentially be worth billions of dollars.
ESPN declined to comment on the figure, but said the deal would bolster the offerings on its upcoming ESPN streaming service, which will cost $29.99 per month, and could launch by the end of August, according to Disney's CEO.
It will provide access to ESPN's popular studio shows, as well as its wide portfolio of professional and college sports.
Under the new agreement, ESPN would own and operate the TV and streaming rights to the NFL Network, which will continue to carry seven games a year.
Meanwhile, the league will continue to own, operate, and produce NFL RedZone, a service that allows fans to watch scoring highlights.
The league also will retain ownership of certain media properties, such as NFL Films, and platforms such as the NFL Podcast Network and NFL+.
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