Disney Stock ( NYSE:DIS )
BAMTech is a video-streaming business spun out from MLB Advanced Media, a digital media company owned by Major League Baseball. Walt Disney Company ( NYSE:DIS ) announced Tuesday that it had assumed full ownership of BAMTech.
According to a filing with the SEC, Disney acquired the remaining interest in BAMTech from Major League Baseball earlier this month. The transaction was said to have cost $900 million.
Before the completion of the agreement, Disney stock had 85% of the ownership stake in the streaming technology services firm BAMTech. In comparison, Major League Baseball held 15%. (MLB).
The request for comment from Reuters was not immediately met with a response from BAMTech or MLB.
In 2016, Disney made the first step toward acquiring BAMTech by purchasing a 33% share in the company for $1 billion. This purchase gave Disney the ability to offer additional content directly to customers.
BAMTech is the streaming technology provider used by organizations such as Worldwide Wrestling Entertainment and HBO, which is owned and operated by Warner Bros. Discovery ( NASDAQ:WBD ) Inc.
As it competes for a larger share of the lucrative global video streaming market, which is currently dominated by companies such as Netflix Inc., Disney, which has been expanding into multimedia services, announced that it will take complete control of the Hulu service as part of a deal with Comcast Corp ( NASDAQ:CMCSA ) (...
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