The global entertainment company first acquired a 33% interest in BAMTech in 2016 for $1bn and added a further stake of 42% in the direct-to-consumer streaming technology firm by paying $1.58bn in 2017 to take its stake to 85%
Disney has taken full ownership of BAMTech. (Credit: Coolcaesar/Wikipedia.org)
Walt Disney has revealed its acquisition of the remaining 15% stake held by Major League Baseball (MLB) in video streaming company BAMTech, in a deal worth $900m.
Following the transaction, Disney now owns 100% of the streaming company.
Established in 2015, BAMTech was spun off from MLB Advanced Media, the digital media wing of MLB. MLB Advanced Media was founded in 2000.
BAMTech offers streaming video technology, mainly for over-the-top content (OTT) services.
Disney acquired a 33% interest in BAMTech in 2016 for $1bn and added a further stake of 42% in the direct-to-consumer streaming technology firm by paying $1.58bn in 2017.
Apart from the disclosure on BAMTech, Disney said that it plans to take full ownership in Hulu, an American direct-to-consumer streaming services.
Hulu is currently owned 67% by Disney, while NBC Universal holds the remaining 33% interest.
Hulu was first launched in 2007 as a joint venture between News Corporation and NBC Universal, and subsequently Providence Equity Partners became a stakeholder as well.
Disney became a stakeholder in Hulu in 2009 and offered to provide content from ABC, ESPN, and Disney Channel.
Recently, Disney announced the return of Robert Iger to lead the company as its CEO.
The return of Robert Iger, who has spent over 40 years at the company, is said to allow the board to set the strategic direction for the renewed growth of the company. He will serve as the CEO for two years.
Last year, Disney tapped Amazon Web Services (AWS) as its preferred public cloud infrastructure provider in the worldwide rollout of the Disney+ online streaming video service.