Disney Among Firms to Buy Stake in NBA's China Subsidiary

The Walt Disney Company and four Chinese investment firms will invest in an 11 percent stake in the National Basketball Association’s subsidiary in China.

The NBA and Disney, which broadcasts the league’s games through its ABC and ESPN subsidiaries, will be joined by the Bank of China, China Merchant Bank, and Legend Holdings, the investment firm that owns the largest share of computer maker Lenovo.

The final investor is a firm owned by Li Ka-shing, a Hong Kong billionaire who controls Hutchison Whampoa, one of Asia’s largest companies.

All told, the outside investors will pay about $250 million, valuing NBA China at about $2.3 billion. Disney will own 5 percent and the four Chinese investors will together own 6 percent.