Overbrook, the largest independent entertainment company in the United States, said it was ending its partnership with ESPN following a series of sexual misconduct allegations.
The company’s president and CEO said he will step down from his position with the network as soon as the matter is resolved.
The company had been under investigation since August.
ESPN had been paying Overbrook to host a number of college basketball games over the past decade, but those games were abruptly cancelled in 2016 after allegations of sexual assault and harassment emerged.
The network has since reinstated the games and reinstated the hosts of those games.ESPN has said the allegations stem from a one-time incident involving a female employee and have not been confirmed by the individual.
In a statement on Wednesday, Overbrook said the network and its owners, Disney, are deeply saddened by the allegations and have cooperated fully with the investigation.
The statement said the company is moving forward as an independent, nonprofit organization that will focus on its core mission to inspire and inspire audiences to take charge of their lives, create and nurture their passions, and create new paths in entertainment.ESPN and Disney have both agreed to change their corporate culture and practices.