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Investing.com -- The National Football League (NFL) is nearing a deal to acquire a minority stake of up to 10% in ESPN, according to CNBC, citing people familiar with the matter.
The potential agreement would connect two major sports brands, with ESPN gaining full ownership of NFL Network and NFL RedZone if the deal proceeds as currently structured.
Discussions between the parties have been ongoing for at least two years and remain in progress. Sources indicate the final agreement could result in a smaller stake than the 10% currently being discussed.
ESPN is 80% owned by Disney (NYSE:DIS) and 20% by Hearst. Under the current structure of the potential deal, ESPN would not take equity ownership in the NFL, unlike its recent arrangement with the Premier Lacrosse League.
The sources declined to be named as they were discussing nonpublic dealings.
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