CNBC's Alex Sherman joins 'Halftime Report' to discuss the NFL being in talks to buy 10% stake in ESPN.

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The NFL is in discussions to acquire a 10% ownership stake in ESPN as part of a larger agreement that would see ESPN take control of certain NFL media properties, including the NFL Network and NFL Red Zone. The arrangement would not include all NFL media assets, but select ones under the NFL's media umbrella.

This potential partnership raises questions about how other media companies will respond to the NFL's direct involvement in a major sports broadcaster, as well as concerns about conflicts of interest regarding ESPN's reporting. The financial terms of the deal have not been disclosed, and it remains uncertain if or when the agreement will be finalized. If completed, the deal could influence future negotiations over NFL media rights and potentially benefit ESPN in securing those rights.

NFL in talks to buy 10% stake in ESPN

Now to a big deal brewing between the NFL and ESPN. Our Alex Sherman following that story and joins us now with more details. What do we know here? Scott, what I'm reporting this morning is that the NFL is actually in talks to buy a 10% stake in ESPN as part of a broader deal that would have ESPN owning the NFL Network, NFL Red Zone and some other assets that are housed within the NFL media umbrella. ESPN would not be buying the entirety of NFL media, but select assets within the interesting part of this. I think beyond just the structure, which is very interesting, the league taking a stake in a media company is perhaps some of the externalities that come from this deal. In other words, what are all the other media companies going to think about the NFL taking a stake in ESPN? Does that give ESPN potentially some preferential treatment? There's also potentially some conflict of interest questions with reporters supposedly being objective. This is something ESPN has always had to deal with. But you have the league taking a direct ownership, kind of bumps it up a level. But we'll see also the price. We don't know that yet. And that will give us a firm valuation of ESPN. If, in fact, a deal gets announced. I mean, interesting, too, when you think about the cost of media rights and those who own them, especially in the NFL, like ESPN. It gives ESPN, you would think, a little bit of protection right now. Suddenly, the league has a vested interest in making sure that ESPN's valuation goes up over time. Well, ESPN is a bidder against every other media company for NFL rights. Of course, ESPN owns Monday Night Football. Right now, there will be a new rights negotiation, potentially after the 2029 season. That's when the NFL has its opt out rights. ESPN will be another bidder there. You would think this would help ESPN securing those rights moving forward. Again, if the deal, in fact, goes forward, because now the NFL will want to make sure that ESPN owns some of those rights because it will better ESPN's valuation in years to come. Sure. Whether they want a home team discount or not remains to be seen. Probably not knowing how these things go. Alex, thanks.

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