BURBANK (dpa-AFX) - Walt Disney Company (DIS) agreed to acquire a one-third stake in the video-streaming unit of MLB Advanced Media, in a deal that values the business at about $3.5 billion, Bloomberg reported citing to a person familiar with the matter.
Disney, the owner of ESPN and ABC, will retain a four-year option to buy an additional 33 percent stake in the digital arm of Major League Baseball. WME-IMG, the parent of William Morris Endeavor and the owner of media properties including the Miami Open tennis tournament, was among the bidders for a stake in the business, the report said.
Copyright RTT News/dpa-AFX