Disney to buy stake in MLB's video unit for $3.5 billion: Bloomberg

Reuters
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 33 percent stake in the video unit of Major League Baseball's digital arm MLB Advanced Media in a deal valued at about $3.5 billion, Bloomberg reported, citing a person familiar with the matter. Disney will also retain a four-year option to buy an additional one-third stake, Bloomberg said. (http://bloom.bg/29ute4B) Disney and Major League Baseball could not be immediately reached for comment. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Savio D'Souza)