NEW YORK, March 18 The National Football League
and Providence Equity Partners announced on Monday that they
have formed a strategic partnership to focus on investing in
sports- and entertainment-related media assets.
The NFL and the New York-based private equity firm said they
will commit equity and jointly operate the global strategic
partnership. Terms of the commitments were not public.
The partnership will target growth equity investments of
approximately $25 million to $50 million in private companies
around the world and have the ability to make larger
Paul Salem, a senior managing director at Providence, said:
"We believe there are many traditional and digital media
properties that complement the NFL's business and can add
Providence, which specializes in media, communications,
education and information companies, has invested in more than
130 companies globally since the firm's inception in 1989.
Some of its current investments include movie and television
production company The Chernin Group, Spanish language media
company Univision Communications Inc, and Yankees Entertainment
and Sports Network.