The Walt Disney Company just agreed to acquire a one-third stake in MLB Advanced Media. The move is part of Disney’s plan to enhance their video streaming services, and hopefully help curb their cord cutter problem.
Bloomberg reported the deal yesterday after speculation began a few months ago. Disney’s purchase is said to value MLBAM at roughly $3.5 billion. Disney also has a four-year option to buy an additional one-third stake, which would make them majority owners of MLB’s online media leg.
Disney, who owns ESPN and ABC struck this massive deal in order to bolster their live streaming on-demand video services.