ESPN agrees to buy NFL Network, RedZone Channel; league gets 10% equity in return

As originally reported by The Athletic last As originally reported by The Athletic last week, ESPN’s relationship with the league will become even more intertwined in the wake of Tuesday night’s announcement of a non-binding agreement in which it “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 parties “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.”