The news: ESPN’s acquisition of various NFL Media properties was officially approved by regulators Saturday, per an announcement from The Athletic. The NFL will now hold a 10% ownership stake in ESPN from the billion-dollar deal.

Under the agreement, ESPN will:

• Own and operate NFL Network and owns the linear rights to the RedZone Channel;
• Become the official home of NFL fantasy football, integrating the league’s fantasy platform into ESPN’s own;
• Broadcast 28 games each season, up from 25, but will retire “Monday Night Football” doubleheaders and move four of its games to NFL Network.

Additionally, ESPN Unlimited subscribers will gain access to NFL Network at no additional cost beginning this fall.

The deal will not alter Super Bowl coverage, though ESPN and NFL Network will gradually integrate.

Why it matters: The major deal gives ESPN owner Disney a stake in the most valuable TV asset out there, and may give the NFL an incentive to keep ESPN as a long-term partner when rights renewal negotiations arrive, notes the New York Times.

The timing is also favorable for Disney as it navigates intensifying competition in digital video.

• Disney recently reported a loss of $110 million from its brief blackout on YouTube TV, which resulted in a deal that heavily favored the latter—but securing a major partnership with the NFL could strengthen Disney’s standing in the digital video landscape.