Walt Disney Company acquire a stake in sports streaming company

The Walt Disney Company have announced that it is acquiring a 33% stake in BAMTech, unhealthy a technology services and video streaming company previously formed by Major League Baseball (MLB). 

As part of the transaction, ambulance BAMTech was separated from MLB’s broader digital business, cialis MLB Advanced Media (MLBAM).

Under the terms of the transaction, Disney will pay $1 billion in two installments, now and in January 2017, and has the option to acquire majority ownership in the coming years.

As part of the transaction, BAMTech will become a key partner for Disney in the delivery and support of streaming video and other digital products from Disney|ABC Television Group and ESPN, as well as future digital initiatives across the Company.

“Our investment in BAMTech gives us the technology infrastructure we need to quickly scale and monetize our streaming capabilities at ESPN and across our company,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.  “We look forward to working closely with BAMTech as we explore new ways to deliver the unmatched content of The Walt Disney Company across a variety of platforms.”

Commissioner of Baseball Robert D. Manfred, Jr. stated, “Every day the powerful partnership of technology and content becomes more important to consumers. We are excited to get to work with Disney and our longtime partners at ESPN in the important and ever-changing area of content distribution.”

BAMTech will also collaborate with ESPN to launch and distribute a new ESPN-branded multi-sport subscription streaming service in the future. The direct-to-consumer service will feature content provided by both BAMTech and ESPN, and include live regional, national and international sporting events.

Current content on ESPN’s linear networks will not appear on the new subscription streaming service. More details about the new service will be announced in the months ahead.

Following Disney’s acquisition of a stake in BAMTech, the National Hockey League received a minority interest in BAMTech, as the result of a previous agreement.