ESPN’s Acquisition of NFL Network and Other Media Assets from the NFL
August 06, 2025
On August 5, 2025, ESPN, a subsidiary of The Walt Disney Company (“Disney”), and the National Football League (“NFL”) announced a non‑binding agreement under which ESPN will acquire NFL Network and certain other media assets owned and controlled by the NFL, including NFL’s linear RedZone Channel and NFL Fantasy, in exchange for a 10% equity stake in ESPN. The NFL and ESPN are also entering into a second non‑binding agreement, under which the NFL will license to ESPN certain NFL content and other intellectual property to be used by NFL Network and other assets. Cravath is representing Disney and ESPN in connection with the transaction.
The Cravath team is led by partners Cole DuMond, Alexander E. Greenberg and Daniel J. Cerqueira and includes associates Armin Hoss, Mary Jean Perzik and Nicholas J. Juan on M&A matters; partner Sasha Rosenthal‑Larrea, of counsel Kathryn‑Ann Stamm, associate Callum A.F. Sproule and foreign associate attorney Shogo Tsunoda on intellectual property matters; partners Lauren Angelilli and Andrew T. Davis and associates Carlos Nicholas Obando and Tristan Baylor on tax matters; partner Jonathan J. Katz, senior attorney Aaron S. Cha and associate Brendon J. Rivard on executive compensation and benefits matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters.
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