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; partner Lauren Angelilli 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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J.D., 2016, University of Pennsylvania Law Schoolcum laude
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J.D., 2017, Harvard Law School
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B.A., 2012, Bates College
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J.D., 2013, Harvard Law Schoolmagna cum laude
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B.A., 2010, Cornell UniversityPhi Beta Kappa
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J.D., 2010, Columbia Law SchoolHarlan Fiske Stone Scholar
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A.B., 2007, Brown University
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J.D., 2000, Harvard Law Schoolcum laude
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B.S., 1996, The Wharton School of the University of Pennsylvaniamagna cum laude
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LL.M., 2013, New York University School of Law
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J.D., 2007, Benjamin N. Cardozo School of LawOrder of the Coif, Dean's Distinguished Scholar, summa cum laude
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B.S., 2003, Cornell University
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J.D., 2016, Cornell Law School
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LL.M., 2016, City University of Hong Kong
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Master II, 2016, University Paris 1 Pantheon-Sorbonne
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Master I, 2013, University Paris 1 Pantheon-Sorbonne
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LL.B., 2013, University Paris 1 Pantheon-Sorbonne
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LL.B., 2013, King's College LondonFirst Class Honors.
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J.D., 1997, Boston University School of Law
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B.Comm., 1994, University of AlbertaDistinction
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J.D., 2011, Benjamin N. Cardozo School of Lawcum laude
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B.A., 2006, University of Virginia
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LL.M., 2013, New York University School of Law
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J.D., 2012, Loyola Law School Los Angeles
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B.S., 2004, University of California, San Diego
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Deals & Cases
August 08, 2023
ESPN’s Agreement with PENN Entertainment to Launch ESPN BET
On August 8, 2023, ESPN announced an agreement with PENN Entertainment (“PENN”) to launch ESPN BET, a branded sportsbook for fans in the United States. PENN Entertainment will rebrand its current sportsbook and relaunch as ESPN BET, effective this Fall in the 16 legalized betting states where PENN Entertainment is licensed. The rebrand includes the mobile app, website, and mobile website. In connection with the transaction, PENN Entertainment has agreed to grant ESPN warrants to purchase approximately 31.8 million PENN common shares that will vest ratably over 10 years, with the potential for ESPN to receive additional bonus warrants to purchase up to an additional approximately 6.4 million PENN common shares. ESPN is 80 percent owned by ABC, Inc., an indirect subsidiary of The Walt Disney Company. Cravath is representing The Walt Disney Company (“Disney”) in connection with the transaction.
Deals & Cases
January 06, 2025
Disney’s Combination of its Hulu + Live TV Business with Fubo
On January 6, 2025, The Walt Disney Company (“Disney”) and FuboTV Inc. (“Fubo”) announced that they have entered into a definitive agreement for Disney to combine its Hulu + Live TV business with Fubo, forming a combined virtual MVPD company of which Disney will become the majority owner.
Deals & Cases
April 04, 2024
Disney’s Successful Proxy Contest Against Trian and Blackwells
On April 3, 2024, The Walt Disney Company (“Disney”) announced that, based on the tabulation of its proxy solicitor, it appears that Disney’s full slate of 12 directors has been elected by a substantial margin over the nominees of Trian and Blackwells at Disney’s 2024 Annual Meeting of Shareholders. Cravath is representing Disney in connection with this matter.
