According to Bloomberg, the Walt Disney Company will purchase a one-third stake in MLB Advanced Media — Major League Baseball’s digital video unit. The deal is valued at over $3.5 billion. Disney will also have a four-year option to purchase another 33%.
Despite what the name implies, MLB Advanced Media actual does a lot more than baseball. The company has a hand in running several subscription-based services including the WWE Network, HBO Now, TheBlaze, and more. Additionally, it has signed deals with other sporting leagues like the NHL and PGA to help distribute their content digitally.
We’ll have more info and commentary on this deal as it becomes available.