Founded by Bill Rasmussen and his son Scott Rasmussen, it launched on September 7, 1979 under the direction of Chet Simmons, the network's President and CEO (and later the United States Football League's first commissioner). Getty Oil Company provided the funding to begin the new venture. Geoff Bray of New Britain, CT was chosen as the architect. George Bodenheimer is ESPN's current president, a position he has held since November 19, 1998. Bodenheimer has also headed ABC Sports, a separate legal entity now branded as ESPN on ABC, since March 3, 2003.

ESPN's signature telecast, SportsCenter, debuted with the network and aired its 30,000th episode on February 11, 2007. ESPN broadcasts primarily from its studios in Bristol, Connecticut. The network also operates offices in New York City; Seattle, Washington; Charlotte, North Carolina; and Los Angeles. The Los Angeles office, from which the late-night edition of SportsCenter is now broadcast, opened at L.A. Live in early 2009. The name of the sport company was lengthened to "ESPN Inc." in February 1985.

ESPN markets itself as "The Worldwide Leader in Sports." The slogan appears on nearly all company media, but its origin is unknown.[citation needed]

Most programming on ESPN and its affiliated networks consists of live or tape-delayed sets of events and sports-related news programming (such as SportsCenter). The remainder includes sports-related talk shows (such as Around the Horn, Jim Rome is Burning, Outside the Lines, "SportsNation", and PTI), sports-related documentaries, films (such as "3: The Dale Earnhardt Story"), and original series (such as "The Bronx Is Burning").

ESPN was originally conceived by Bill Rasmussen, a television sports reporter for WWLP, the NBC affiliate in Springfield, Massachusetts. In the mid-1970s, Rasmussen worked for the World Hockey Association's New England Whalers, selling commercial time for their broadcasts. His son Scott, a former high school goaltender, was the team's public-address announcer. Both were fired in 1977 and Rasmussen sought a new business venture. His original idea was a cable television network (then a fairly new medium) that focused on covering sports events in the state of Connecticut (for example, the Hartford Whalers, Bristol Red Sox, and the Connecticut Huskies). When Rasmussen was told that buying a continuous 24-hour satellite feed was less expensive than buying several blocks of only a few hours a night, he expanded to a 24-hour nationwide network. The channel's original name was ESP, for Entertainment and Sports Programming, but it was changed prior to launch.

ESPN started with the debut of SportsCenter hosted by Lee Leonard and George Grande on September 7, 1979. Afterwards was a pro slow pitch softball game. The first score on SportsCenter was from women's tennis on the final weekend of the US Open.

To help fill 24 hours a day of air time, ESPN aired a wide variety of sports events that broadcast networks did not show on weekends, including Australian rules football, the Canadian Football League, Davis Cup tennis, professional wrestling, boxing, and additional college football and basketball games. The U.S. Olympic Festival, the now-defunct competition that was organized as a training tool by the United States Olympic Committee, was also an ESPN staple at the time. ESPN also aired business shows and exercise videos.

ESPN recruited Steve Powell, former Director of Sports Programming at HBO, to be its first head of Programming. Powell had been the youngest VP at HBO and its parent company (Time, Inc.), but left to attend Harvard Business School. He worked for ESPN while completing the MBA Program at Harvard.

ESPN (along with the USA Network) was among the earliest cable-based broadcast partners for the National Basketball Association (NBA). Lasting from 1982 to 1984, the network's relationship with the association marked its initial foray into American professional sports. After an 18 year hiatus, ESPN (by then, under the auspices of the ABC network), secured a $2.4 billion, six-year broadcast contract with the NBA, thereby revitalizing its historic compact with U.S. professional basketball.

In 1983, The United States Football League (USFL) made its debut on ESPN and ABC. The league (which lasted for three seasons) enjoyed ephemeral success, some portion of which was a byproduct of the exposure afforded through ESPN coverage.