The National Football League will sell most of its media businesses to Walt Disney Co. in exchange for a 10% stake in the ESPN sports networks, deepening the ties between the league and one of its top broadcast partners.

LOS ANGELES, Aug 5 (Reuters) - Walt Disney's (DIS.N) ESPN has reached a landmark deal with the National Football League to acquire NFL Network and other media assets from the league in exchange for the NFL taking a 10% equity stake in the sports network, the parties said on Tuesday.

The morning after the Walt Disney Co. and the NFL formally announced their blockbuster equity-for-assets swap, Bob Iger told investors the deal may well be the biggest thing to hit ESPN in nearly 40 years.