ESPN equity deal with NFL Media likely ‘dead,’ no other suitors emerging

As ESPN’s business undergoes a significant transformation and NFL Media cuts back on spending, a purchase of the league media apparatus by the Worldwide Leaders is likely “dead” according to one sports business insider.

Earlier this year, multiple reports suggested ESPN was close to a deal with the NFL that would see the league take an ownership stake in the sports media company while ESPN took over operations of NFL Media, which includes NFL Network, league-owned fantasy football properties, and digital content like its podcast partnership with iHeartMedia or insider Ian Rapoport’s YouTube channel.

The deal would have provided ESPN a useful influx of cash and access to more exclusive content, while allowing the NFL to offload its decaying cable TV business.

Puck sports correspondent John Ourand reported this week that negotiations on that ESPN-NFL partnership are “decidedly on the back-burner” and that “many outside executives have assumed that the deal was dead.” Worse yet for the NFL, Ourand reports no clear backup suitors have emerged to buy NFL Media.

Few sports broadcasters are focused on cable these days, and Ourand added that the league never bothered to pitch Paramount Global on buying NFL Media during its lucrative takeover by Skydance this year.

NFL Media cut jobs earlier this year and moved production of its signature Good Morning Football show closer to its HQ in Los Angeles. The network airs daytime news shows and shoulder programming, but its only exclusive broadcasts these days are International Series games.

ESPN also reportedly explored a similar partnership with the NBA, which could still move forward. The network renewed its broadcast deal with the NBA this year, acquiring additional highlights rights.

Both ESPN and the NFL would benefit from a deal like this, but it appears that won’t happen together.

[Puck]