The National Football League is in discussions with Skydance Media, owned by David Ellison, and private equity company RedBird Capital Partners, potentially involving the sale of NFL Media and its NFL Network cable channel, according to a report by Bloomberg.
The preliminary discussions could also include the possibility of Paramount Global (PARA) acquiring the league's stake in Skydance Sports, the report added.
Notably, the NFL shares a long-term relationship with Paramount, which is in the process of merging with Skydance, a transaction that is expected to close next year.
While, the league has a deal with Paramount's CBS Network through 2033, the contract with Paramount has a "change of control" provision, which allows the NFL to explore other media partners.
Despite the clause, the NFL is unlikely to replace CBS as its broadcast partner, though it has led to a broader conversation about business opportunities between the league, Skydance and RedBird, Bloomberg noted.
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