Report: ESPN, NFL Close To ‘Next Era’-Defining Media Deal.

ESPN and the National Football League are on the cusp of a historic deal that would see the sports media powerhouse acquiring NFL Media, which produces content and runs the NFL Network.

That’s according to sources briefed on the negotiations, who spoke with The Athletic, which is owned by The New York Times.

The deal comes against the backdrop of ESPN’s plans to make its programming available on a direct-to-consumer basis this fall, with its “The Next Era” offering costing $29.99 monthly.

More specifics of the deal, including any implications for radio, weren’t immediately clear.

While there’s still no signed contract between ESPN and the NFL, talks have gone on for the last four years. According to Sports Business Journal, they heated up a little more than 18 months ago and a deal is now said to be as close as it has ever been, with the NFL informing its owners they may vote on it in early August. Both sides are said to be working around the clock to hammer out minute details.

ESPN remains a major force in today’s media ecosystem, despite the fact that its reach has shrunk. It still charges more than $10 monthly, but the digital shift and rise of streaming platforms like Netflix have cut its distribution to just 65.3 million homes through cable, satellite, and live TV services such as YouTube TV and Fubo, according to Nielsen.

To retain that audience — and grow — it’s launching a revamped direct-to-consumer (DTC) app. Traditional subscribers will continue to access ESPN’s linear channels, but they’ll also be able to log into this new app, signaling ESPN’s push into a streaming-first future.

Just as a generation once flocked to ESPN on cable, the Disney-owned network hopes its new app becomes the go-to destination for sports fans, The Athletic says. The NFL has long tried to offload its media operations — including NFL Media, which runs NFL Network and Red Zone Channel. While the league has had some success managing its own content, the fragmented media landscape may finally prompt it to hand the reins to a major player.

Details on what ESPN and Disney might pay are still under wraps, The Athletic reports, but it’s expected to be a substantial investment. The deal would likely require regulatory approval, a process that could take around nine months.