MLB Advanced Media is the video arm of Major League Basketball.

Bloomberg has reported citing a source who is familiar with the matter at hand that Walt Disney Co. is set to buy a 33% stake in MLB Advanced Media, the video arm of Major League Baseball in a deal valued at $3.5 billion.

As part of the deal, Bloomberg has said Disney will retain a four-year option to buy an additional one third stake in MLB Advanced Media.

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

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Tags: acquisition, Major League Basketball, MLB Advanced Media, stake, valuation, Walt Disney