In a landscape-altering deal, The Walt Disney Co. will acquire assets from NFL Media, including NFL Network, with the league acquiring a 10 percent ownership stake in the sports media giant.

ESPN will fully own NFL Network, with plans to bake it into the upcoming direct-to-consumer streaming service. The RedZone channel, meanwhile, will join Disneys linear portfolio, with Disney also planning to merge its ESPN fantasy football product with NFL Medias fantasy product.

Perhaps most importantly, the NFL will also license games, RedZone, NFL Films programming and other content and rights to ESPN, potentially supercharging the streaming service when the deal closes. And ESPN will get the rights to the RedZone brand, potentially opening the door to expanding the brand to other sports and platforms.

Todays announcement paves the way forthe worlds leading sports media brandand Americas most popular sport to deliver aneven more compelling experience for NFL fans, in a way that only ESPN and Disney can, said Disney CEO Bob Iger in a statement. Commissioner Goodell and the NFL have built outstanding media assets,and these transactions will add to consumer choice, provideviewers with even greater convenience and quality, and expand the breadthand valueproposition of Disneys streaming ecosystem.

Since its launch in 2003, NFL Network has provided millions of fans unprecedented access to the sport they love, added NFL Commissioner Roger Goodell. Whether it was debuting Thursday Night Football, televising the Combine, or telling incredible football stories through original shows and breaking news, NFL Network has delivered. The Networks sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways.

This is an exciting day for sports fans, added Jimmy Pitaro, chairman of ESPN. By combining these NFL media assets with ESPNs reach and innovation, were creating a premier destination for football fans. Together, ESPN and the NFL are redefining how fans engage with the gameanytime, anywhere. This deal helps fuel ESPNs digital future, laying the foundation for an even more robust offering as we prepare to launch our new direct-to-consumer service.

The deal, more than a year in the making, will turbocharge ESPNs streaming ambitions, bringing additional games to the streaming platform when it closes, though the details are somewhat convoluted: ESPNs platforms will license an additional three NFL games per season to air on NFL Network as a result of todays news. In addition, ESPN will adjust its overall NFL game schedule, with four games (including some from overlapping windows) shifting to the NFL Network, which will continue to present seven games per season, the NFL and ESPN explain in a press release.

The NFL will continue to own RedZone, even as it licenses it to ESPN, and the league will continue to fully own NFL Films, NFL+, and other digital assets.

Given the size of the deal, it will require regulatory approval, and could take some time to close. Already some are wondering whether the administration could take a close look at the deal in a bid to seek concessions from Disney or the NFL.

The league and Disney note that the deal is still contingent on definitive agreements, as well as approval by team owners.

ESPN is currently 80% owned by Disney, and 20% owned be Hearst. It is not clear yet how the NFLs stake will dilute their ownership.