The Walt Disney Company reportedly paid $900M to Major League Baseball for the remaining 15% stake in BAMTech, a streaming video tech company that powers Disney+. This jaw-dropping financial movement comes just days before Disney+ is set to launch its ad-supported subscription tier and ahead of planned corporate restructuring under reinstated CEO Bob Iger.
The Walt Disney Company subsequently bought out a 10% stake from the National Hockey League and now has acquired the remaining 15%, formerly owned by MLB, to gain full ownership of the company.
Considering all the financial movements involved in BAMTech’s transition, The Walt Disney Company paid $3.48B to gain full ownership over the streaming tech company, per Forbes.
BAMTech, which was officially renamed “Disney Media & Entertainment Distribution” when Disney gained majority ownership of the company, states the following regarding the company:
The move comes days before Disney+ is set to launch its ad-supported tier. In Q3 2022, the streaming service registered an increase of 12 million subscribers with a total of 164.2 million subscribers globally.