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Sinclair Broadcast Group (SBGI) - Get Sinclair Broadcast Group Inc. Report has reached a deal to buy nearly two dozen regional sports networks from Walt Disney (DIS) - Get The Walt Disney Company Report for $10 billion according to a published report Thursday.

The networks were acquired by Disney in its $71 billion purchase of assets from Fox, which closed earlier this year.

The transaction involves 21 regional sports networks, The Wall Street Journal reported, citing unnamed sources. The deal could be announced as early as Friday, according to the report.

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Disney is expected to report quarterly earnings of $1.57 a share on sales of $14.5 billion after the market closes next Wednesday, based on a FactSet survey of 23 analysts. In the same period a year ago the company posted earnings of $1.84 a share on sales of $14.5 billion.

Walt Disney is a holding in Jim Cramer's Action Alerts portfolio. Want to be alerted before Jim Cramer buys or sells DIS? Learn more now

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