ABC will let Al Michaels out of his contract so that he can follow John Madden to NBC.
In return, NBC had to give up the rights to the 1927 TV cartoon Oswald the Lucky Rabbit and the broadcast rights to Ryder Cup golf until 2014. And each Sunday during the football season, NBC will promote the next night's Monday Night Football game on ESPN. Also, NBC will allow ABC and its cable network ESPN to air extended Olympics highlights through the 2012 games.
Oswald the Lucky Rabbit, I learned today, is a 1927 cartoon created by Walt Disney that was the predecessor to Mickey Mouse. Somehow, the Disney empire had lost the rights to Oswald and needed to part with Al Michaels to get it back.