Walt Disney Company (DIS)'s ESPN and Major League Baseball are ending their media rights partnership of over three decades after the 2025 season, The Wall Street Journal reported Thursday citing the two parties.

ESPN was due to pay the league $550 million per year from 2026 to 2028 in airing rights, the report said.

MLB Commissioner Rob Manfred told team owners that ESPN made an "aggressive effort to reduce rights fees", according to a letter seen by WSJ.

Manfred said that the league had "not been pleased with the minimal coverage that MLB has received on ESPN's platforms," and that it does not think pay TV is the best platform for its content and plans to explore opportunities with a new broadcast or streaming partner.

Manfred also showed interest in selling a national streaming package that would centralize local media rights after MLB's deals with Fox and Turner Sports expire in 2028, according to the report.

Meanwhile, ESPN reportedly said it is open to finding "new ways" to serve MLB fans after 2025.

ESPN and MLB did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)