NFL Is In Talks To Acquire Some Of Skydance's Assets Ahead Of Merger With Paramount Global

The National Football League is in talks with David Ellison’s Skydance Media and one of his major investors, RedBird Capital Partners, that could result in some of the league’s media assets changing hands, according to people familiar with the conversations.

The talks could include a sale of NFL Media and its NFL Network cable channel, or an acquisition by Paramount Global of the league’s interest in Skydance Sports, a joint venture that produces movies and TV shows, according to the people, who asked to not be identified because the discussions are private.

Paramount, which holds rights to broadcast NFL games, is in the process of merging with Skydance, an independent film and TV studio, in a deal expected to close next year. Paramount’s contract with the league includes a change of control provision that could allow the NFL to seek another media partner, the people said. The NFL’s deal with Paramount’s CBS network is worth about $2.1 billion a year through 2033.

Although it is unlikely that the NFL will seek to replace CBS as its broadcast partner, the provision has prompted a wider conversation about business opportunities between the league, Skydance and RedBird. The league is already in business with both parties and Commissioner Roger Goodell has praised Skydance in interviews.

In 2022, the NFL invested $45 million in Skydance Sports in a deal that valued the entity at about $100 million. Skydance and NFL Films produced a new season of HBO’s Hard Knocks documentary series, focusing on the New York Giants, this year. The two companies are also working on a 10-part documentary series on Dallas Cowboys owner Jerry Jones.

The league and RedBird are partners in EverPass Media, which distributes the NFL Sunday Ticket games to bars and restaurants. RedBird is also an owner of the United Football League, which plays in the spring season. Larry Ellison, the father of the Skydance founder and one of the world’s richest men, has previously expressed interest in owning a professional football team.

The NFL has been shopping its media assets for a few years. NFL Media includes the league’s digital operations, the NFL cable network, the film unit and NFL RedZone, a subscription service. Walt Disney Co.’s ESPN sports division had been in talks about a potential deal that could have seen the company acquire NFL Media, giving the league a stake in ESPN in return. Those talks have stalled, however.

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