Latest news with #RobertIger
Canada News.Net
5 days ago
- Business
- Canada News.Net
NFL gets 10% ESPN stake as part of sweeping media asset deal
LOS ANGELES, California: ESPN is set to expand its football footprint in a landmark deal with the NFL that will give the Disney-owned network control of several key league media properties, including NFL Network, in exchange for the NFL acquiring a 10 percent equity stake in ESPN. The transaction, announced this week, is subject to regulatory approval. No official valuation was disclosed, but analysts estimate the NFL's stake could be worth between US$2 billion and $3 billion. "Tough to estimate a value except that it's in the multi-billions," said sports marketing analyst Bob Dorfman. "The NFL seems to have no ceiling on growth and value; with all the content beyond the actual games, it's become a year-round sport. And it's only going to grow internationally." As part of the agreement, ESPN will also take over NFL Fantasy, a popular digital platform, and gain distribution rights for NFL RedZone to cable and satellite 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," said Disney CEO Robert Iger. The deal comes as ESPN prepares to launch its standalone streaming service, expected as early as this month, priced at $29.99 per month. The service will feature coverage of the NFL, NBA, WNBA, MLB, NCAA Women's Basketball Championship, and more, along with shows like SportsCenter and Pardon the Interruption. "By combining these NFL media assets with ESPN's reach and innovation, we're creating a premier destination for football fans," said ESPN Chairman Jimmy Pitaro. The NFL Network, launched by the league in 2003, will now be operated by ESPN and continue airing seven games per season. While the channel helped launch Thursday Night Football, it never became a direct competitor to ESPN. "The network's sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways," said NFL Commissioner Roger Goodell. RedZone, which provides live look-ins during scoring drives on Sunday afternoons, will remain owned and produced by the NFL, which retains digital distribution rights. The NFL will also continue to own other media assets, including NFL Films, the NFL Podcast Network, and the NFL+ streaming service.
Zawya
6 days ago
- Business
- Zawya
Disney's ESPN to acquire NFL media assets in major deal
LOS ANGELES - 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 and no value was provided. Analysts and industry insiders estimated the NFL's stake in ESPN could be worth $2 billion to $3 billion, though the companies declined to comment. "Tough to estimate a value except that it's in the multi-billions," said Bob Dorfman, a sports marketing analyst in San Francisco. "The NFL seems to have no ceiling on growth and value; with all the content beyond the actual games, it's become a year-round sport. And it's only going to grow internationally." 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 ESPN streaming service, which Iger has said could launch as early as this month, will cost $29.99 per month. It will provide access to ESPN's portfolio of professional and college sports, including the NFL, the NBA and WNBA, MLB and the NCAA Women's Basketball Championship, as well as studio shows such as "SportsCenter" and "Pardon the Interruption." "By combining these NFL media assets with ESPN's reach and innovation, we're creating a premier destination for football fans," ESPN Chairman Jimmy Pitaro said in a statement. The league launched the NFL Network in 2003, as it sought to tap into the revenue generated by cable and satellite subscriptions. While it gained traction, introducing Thursday Night Football, it never rose to become a rival to ESPN. 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. "The network's sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways," said NFL Commissioner Roger Goodell. RedZone is a service that allows fans to watch scoring opportunities during Sunday afternoon NFL games. The league will continue to own, operate, and produce NFL RedZone and retain rights to distribute it digitally. The league also will retain ownership of certain media properties, such as NFL Films, and platforms such as the NFL Podcast Network and NFL+. (Reporting by Dawn Chmielewski and Lisa Richwine; additional reporting by Rory Carroll in Los Angeles; Editing by Jamie Freed)
eNCA
7 days ago
- Business
- eNCA
NFL buys 10% stake in ESPN, which buys NFL Network, RedZone
NEW YORK - The NFL sold its NFL Network and Sunday RedZone television show to ESPN on Tuesday in exchange for a 10% equity stake in the US-based sports television network. Both companies announced the deal, which also includes the combining of NFL Fantasy Football with ESPN Fantasy Football. Federal regulators must approve the transaction, a process that could take several months, according to the league. Until the deal closes, fans are unlikely to see any significant changes to ESPN or NFL Network. "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," said Robert Iger, chief executive officer of The Walt Disney Company, in a statement. The NFL will allow ESPN to distribute NFL RedZone, the league's whip-around show for scoring plays on busy Sundays, to pay-television operators. "Since its launch in 2003, NFL Network has provided millions of fans unprecedented access to the sport they love," NFL commissioner Roger Goodell said in a statement. "The Network's sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways." NFL team owners also must approve the deal, but that is seen as little more than a formality given the expanded reach on offer for NFL programming. "I think we've hooked up with the best partners we can have," said New England Patriots owner Robert Kraft, chairman of the NFL's media committee. "That will help expose us to more homes, more of an international audience. Strategically, we have to grow our salary cap and can only do that by -- if we want to keep labor peace, we have to grow our audience. This transaction helps us to do that." ESPN will adjust its NFL telecast schedule, shifting some telecasts with NFL Network, which will continue to show seven games a season while ESPN expands to 28. The NFL will continue to operate other media companies such as NFL Films and The NFL-ESPN deal creates the official season-long fantasy NFL game with greater digital experience and innovation allowing for broader global reach. Global growth opportunities for the NFL, which already plays games overseas every season, played a key role in motivating the NFL to get terms of the deal sorted. "We're hooking up with the strongest sports amalgamation of sports product," Kraft said. "We're giving them what I believe is the best content, and they're giving us the greatest operational company to grow our audience globally. "This is a way for us to broaden our audience. We've done so much. I don't think there's any company like (ESPN owners) Disney and ESPN in doing sports, all sports. We need to expose our product to more people and a greater variety of people." js/sla
Time of India
7 days ago
- Business
- Time of India
NFL acquires 10% stake in ESPN as part of landmark media deal
In a significant media deal, the NFL has sold its NFL Network and Sunday RedZone to ESPN in exchange for a 10% ownership stake in the Disney-owned sports network. This move deepens the partnership between the two brands, with NFL Fantasy Football merging with ESPN Fantasy Football. NFL team owners must still approve the deal, but the vote is expected to be a formality, given the expanded distribution and visibility it offers for league programming. The move gives the NFL a minority stake in one of the most powerful sports broadcasters in the US, while ESPN strengthens its football portfolio with full control of NFL Network and RedZone - two cornerstone properties during the NFL season. (Image Credit: X) Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a landmark media shake-up, the NFL has sold its NFL Network and the popular Sunday RedZone broadcast to ESPN in exchange for a 10% ownership stake in the Disney-owned sports network. The deal, announced jointly by the NFL and ESPN on Tuesday, marks a major realignment in sports media and deepens the partnership between the two powerhouse part of the agreement, NFL Fantasy Football will also merge with ESPN Fantasy Football, creating a unified platform for fans heading into future transaction is subject to approval by federal regulators - a process the NFL says could take several months. Until then, viewers and fantasy players should not expect any immediate changes to either ESPN or NFL Network's programming or move gives the NFL a minority stake in one of the most powerful sports broadcasters in the US, while ESPN strengthens its football portfolio with full control of NFL Network and RedZone - two cornerstone properties during the NFL season."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," said Robert Iger, chief executive officer of The Walt Disney Company , in a NFL will permit ESPN to distribute NFL RedZone - the league's popular Sunday whip-around show featuring live scoring plays - to pay-TV providers."Since its launch in 2003, NFL Network has provided millions of fans unprecedented access to the sport they love," NFL commissioner Roger Goodell said in a statement. "The Network's sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways."NFL team owners must still approve the deal, but the vote is expected to be a formality, given the expanded distribution and visibility it offers for league part of the agreement, ESPN will revise its NFL broadcast schedule, taking on a larger share of games. While NFL Network will continue airing seven games per season, ESPN's slate will grow to 28 NFL will retain control of other media properties, including NFL Films and partnership also establishes the official season-long NFL fantasy game , combining ESPN and NFL Fantasy into a single platform designed to enhance the digital experience and expand global reach.
Int'l Business Times
7 days ago
- Business
- Int'l Business Times
NFL Buys 10% Stake In ESPN, Which Buys NFL Network, RedZone
The NFL sold its NFL Network and Sunday RedZone television show to ESPN on Tuesday in exchange for a 10% equity stake in the US-based sports television network. Both companies announced the deal, which also includes the combining of NFL Fantasy Football with ESPN Fantasy Football. Federal regulators must approve the transaction, a process that could take several months, according to the league. Until the deal closes, fans are unlikely to see any significant changes to ESPN or NFL Network. "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," said Robert Iger, chief executive officer of The Walt Disney Company, in a statement. The NFL will allow ESPN to distribute NFL RedZone, the league's whip-around show for scoring plays on busy Sundays, to pay-television operators. "Since its launch in 2003, NFL Network has provided millions of fans unprecedented access to the sport they love," NFL commissioner Roger Goodell said in a statement. "The Network's sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways." NFL team owners also must approve the deal, but that is seen as little more than a formality given the expanded reach on offer for NFL programming. "I think we've hooked up with the best partners we can have," said New England Patriots owner Robert Kraft, chairman of the NFL's media committee. "That will help expose us to more homes, more of an international audience. Strategically, we have to grow our salary cap and can only do that by -- if we want to keep labor peace, we have to grow our audience. This transaction helps us to do that." ESPN will adjust its NFL telecast schedule, shifting some telecasts with NFL Network, which will continue to show seven games a season while ESPN expands to 28. The NFL will continue to operate other media companies such as NFL Films and The NFL-ESPN deal creates the official season-long fantasy NFL game with greater digital experience and innovation allowing for broader global reach. Global growth opportunities for the NFL, which already plays games overseas every season, played a key role in motivating the NFL to get terms of the deal sorted. "We're hooking up with the strongest sports amalgamation of sports product," Kraft said. "We're giving them what I believe is the best content, and they're giving us the greatest operational company to grow our audience globally. "This is a way for us to broaden our audience. We've done so much. I don't think there's any company like (ESPN owners) Disney and ESPN in doing sports, all sports. We need to expose our product to more people and a greater variety of people."
