Hearst CEO says company has no interest in selling its 18% ESPN stake
Hearst Communications has held a minority stake in ESPN since purchasing a 20% share in 1990 for approximately $170 million. Speaking at an Axios conference, Hearst president and CEO Steven Swartz dismissed any notion of selling the company's current 18% stake — which sits at that level following the NFL's acquisition of a 10% stake earlier in 2026 — saying there was simply no interest in doing so. According to the source, ESPN is now valued at roughly $30 billion based on implied valuations from the NFL Media deal, putting Hearst's share at an estimated $5.4 billion. Swartz cited ESPN's leadership, its partnership with Disney, and the NFL's involvement as reasons for continued confidence in the investment.
No, no interest in selling
Why it matters
For brands: Companies and leagues considering ESPN partnerships can take note that the network's existing minority owners remain confident in its long-term value despite cord-cutting headwinds.
For media: Hearst's firm commitment to retaining its ESPN stake signals continued stability in the network's ownership structure at a time when linear television is under significant pressure.
Read the full story at Awful Announcing
Sources
- Awful Announcing · Drew Lerner: Hearst CEO has ‘no interest’ in selling ESPN minority stake