Analysts and industry insiders estimated the NFL's stake in ESPN could be worth $2 billion to $3 billion, though the companies declined to comment.

ESPN also will acquire NFL Fantasy, a digital offering, and will gain the rights to distribute the NFL RedZone television channel to its cable and satellite television customers.

The ESPN streaming service, which Iger has said could launch as early as this month, will cost $29.99 per month. It will provide access to ESPN's portfolio of professional and college sports, including the NFL, the NBA and WNBA, MLB and the NCAA Women's Basketball Championship, as well as studio shows such as "SportsCenter" and "Pardon the Interruption."