The news comes after ESPN announced a deal with Tribune Media to purchase its media properties, including The Associated Press and the Boston Globe.
The deal also includes the purchase of The Associated Journals newspaper chain.
The combined company will control more than 2,500 local newsrooms and about a third of the country’s print and online news.
“Our merger with Tribune represents the largest sports media deal in history,” ESPN President of Media Jon Steinberg said in a statement.
“We will have more than 3,600 reporters in the U.S. and millions of subscribers, while building on the strong relationships we’ve built in the sports business over the past decade.”
Tribune Media has been in talks with the NBA and the NFL since it announced the deal, and Steinberg says the company will work with those teams to ensure its content stays in front of consumers.
“We are excited to partner with the ESPN family on this historic transaction,” said Jay Jacobs, Tribune’s chief financial officer.
“Tribune will provide our content to our millions of consumers across all of our platforms, as well as to our partners in media, entertainment and news across ESPN and ESPN2, and will continue to provide a comprehensive, high-quality product across all platforms.”
Tribune is also working on an agreement to purchase other sports properties, which includes the New York Yankees, New Orleans Saints and Miami Dolphins.
ESPN has not commented on those deals.
ESPN is expected to announce its purchase of Tribune’s assets next week.
The deal was finalized on Friday after the company agreed to pay $4 billion for the majority of Tribune Holdings and $4,300 per employee in severance and stock.
The transaction is expected be completed by the end of 2017.