Disney to Take Stake in MLB Advanced Media (Report)

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The streamer, jointly owned by all 30 MLB teams, is valued at $3.5 billion with Disney looking to take a third of the company.

The Walt Disney Co. has agreed to purchase a one-third stake in MLB Advanced Media, the digital arm of Major League Baseball, according to published reports.

The deal values the entity at $3.5 billion, and Disney will bet a four-year option to acquire another third of the company in the next four years, Bloomberg reported Thursday, citing a person familiar with the matter.

Disney was not available for comment.

MLB Advanced Media is jointly owned by the 30 MLB teams. Bloomberg also reported that Disney beat out WME-IMG, which also bid for a stake in the business.

Disney has been looking for ways to enter the digital sports market as the company's flagship sports network ESPN continues to see a fall off in viewers and subscribers.