ESPN Closes NFL Media Assets Acquisition

Government regulators approved ESPN's acquisition of key NFL Media assets on Saturday, clearing the way for the Walt Disney-owned network to finalize its billion-dollar deal with the National Football League. The transaction, first announced last August, closed late that evening following reviews by the U.S. Justice Department and international antitrust authorities.

Under the agreement, ESPN will own and operate NFL Network, which reaches nearly 50 million subscribers, along with NFL Fantasy and linear distribution rights for the popular RedZone channel to cable and satellite providers. The NFL, in exchange, receives a 10 percent equity stake in ESPN, valued in the billions. The league will retain control over the production and digital distribution of RedZone, as well as ownership and operation of NFL Films, NFL.com, the official websites of its 32 teams, the NFL Podcast Network and the NFL FAST Channel, a free ad-supported streaming service.

"The NFL and ESPN are pleased to announce the official closing of the sale of NFL Network and other NFL Media assets to ESPN," the organizations said in a joint statement. "With the closing, we will begin integrating NFL employees into...