Disney Shares Rise as ESPN to Buy NFL Media Assets (1)

(updates with stock move.)

ESPN, a Walt Disney subsidiary, and the National Football League announced a non-binding agreement in which ESPN will acquire NFL Network and other media assets in exchange for a 10% equity stake in ESPN. Shares in Disney rise as much as 3.1% in premarket trading on Wednesday.

• REA MORE: Disney’s ESPN to Buy NFL Network, Other Assets in a Stock Swap
• NFL and ESPN also entering into a second non-binding agreement in which the NFL will license to ESPN certain NFL content and other intellectual property to be used by NFL Network and other assets
• Other ...