ESPN is currently 80 percent owned by ABC Inc as an indirect subsidiary of Disney, with the other 20% owned by Hearst. If the deal is approved, ABC’s stake would drop to 72 percent and Hearst would fall to 18 percent to grant the NFL a 10 percent stake.

The NFL Network will continue airing live games for at least seven more years under ESPN’s control, thanks to a landmark extension negotiated as part of ESPN’s acquisition of the channel. According to John Ourand of Puck,

ESPN and the NFL have announced a deal that will see the sports media channel acquire several NFL assets in exchange for 10% equity in the company. As a part of the deal, ESPN will be acquiring the very popular NFL RedZone channel,