June 30, 2016 / 8:17 PM / in 2 years

Disney to buy stake in MLB's video unit, valuing unit at $3.5 billion: Bloomberg

A portion of the signage at the main gate of The Walt Disney Co. is pictured in Burbank, California May 7, 2012. REUTERS/Fred Prouser

(Reuters) - Walt Disney Co has agreed to buy a 33 percent stake in the video unit of Major League Baseball’s digital arm, MLB Advanced Media, in a deal that values the business at about $3.5 billion, Bloomberg reported, citing a person familiar with the matter.

Bloomberg earlier reported that Disney agreed to buy the 33 percent stake for $3.5 billion.

Disney and Major League Baseball could not be immediately reached for comment.

Disney will also retain a four-year option to buy an additional one-third stake, Bloomberg said. (bloom.bg/2993IWQ)

Reporting by Supantha Mukherjee and Sangameswaran S in Bengaluru; Editing by Savio D'Souza and Leslie Adler

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