NFL exploring options for media properites, including stake sale - WSJ

(Reuters) - The National Football League (NFL) is exploring options for its media properties including selling stakes to strategic partners, the Wall Street Journal reported on Wednesday, citing a letter from the league to team owners.

The move aims to expand the reach of the NFL's television networks and digital services as league officials believe there would be greater benefits by aligning with bigger media and tech firms, the report said. (https://bit.ly/2TYAiBy)

The league has hired Goldman Sachs Group Inc in the hunt for potential partnerships, according to the Journal, but will retain control of its networks.

The NFL did not immediately respond to a Reuters request for comment.

The report comes months after the NFL signed long-term deals with media behemoths Amazon.com Inc, Walt Disney Co's ESPN, ABC Network and others.

Sports has remained one of the biggest attractions for live viewing even as U.S. audiences are cutting pay-TV subscriptions and migrating to streaming services.

(Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.)

06/23/2021 19:41

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