Media and entertainment company Walt Disney has struck a deal to acquire a one-third stake in the video-streaming division of MLB Advanced Media, which is operated by North America’s Major League Baseball.
The deal values MLB Advanced Media at about $3.5bn (€3.2bn), according to the Bloomberg news agency. As part of the agreement, Disney has an option to acquire a further 33-per-cent stake in the division over the next four years.
MLB Advanced Media is jointly owned by the league’s 30 franchises.
It already handles video streaming for WatchESPN, where subscribers to US sports broadcaster ESPN can watch live coverage online. ESPN is operated by Disney.
The WME-IMG agency was among the bidders for the stake in the business.