Venture capital founder Joshua Kushner and former Disney CEO Bob Iger acquire Mark Walter's stake in Los Angeles Lakers at valuation of more than $12 billion.

Mark Walter sold his majority shares of the Lakers to Bob Iger and Josh Kushner for $12.5 billion, yielding a $2.5 billion profit

The Los Angeles Lakers are being sold to businessmen Josh Kushner and Bob Iger for a record-breaking price, the second such sale in a year.