Disney buys MLB’s stake in streaming company BAMTech for $900 million.


Earlier this month, Disney purchased the remaining stake in BAMTech Major League Baseball for $900 million, the company said in an SEC filing.

Prior to the transaction, streaming technology service provider BAMTech was owned 85% by Disney and 15% by Major League Baseball (MLB).

BAMTech and MLB did not immediately respond to Reuters’ request for comment.

In 2016, Disney began the process of acquiring BAMTech by buying a 33% stake for $1 billion to allow it to sell more content directly to consumers.

BAMTech provides the streaming platform for entities such as Worldwide Wrestling Entertainment and Warner Bros. Discovery Inc.’s HBO.

Disney, which has expanded into media services, has said it will take full control of the Hulu service in a deal with Comcast Corp, as it fights for a bigger share of the global Hulu market. video streaming dominated by companies such as Netflix Inc.

Streaming service provider Hulu is 67% owned by Disney and 33% by NBC Universal (NBCU).

Disney said last week that Bob Iger was returning to the company as chief executive less than a year after his retirement, a surprise return that coincides with the entertainment company’s attempt to boost consumer confidence. investors and profits from its continuous media unit.

Iger said on Monday that one of his top priorities was to make the company’s streaming business profitable.

On Tuesday, Disney said the company is planning organizational and operational changes that could result in impairment charges in the coming months. Disney said Iger’s mandate is to put the company on a path to new growth.

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