According to A document In a filing with the Securities and Exchange Commission (SEC), made public on Tuesday, Disney The remaining stock was purchased from Major League Baseball (MLB). 15% league. henceforth, Disney owns 100% of BAMTech, a company that manages streaming of sporting events, rebranded as Disney Streaming Services in 2019.. The size of this transaction is approx $900 million.
Disney soon acquired a majority stake
BAMTech traces its roots back to 2000. When MLB tried to develop streaming video technology order Broadcast baseball games and highlights over the Internet. It was only in 2015 that Major League Baseball Advanced Media (MLPAM) announced its intention. Turn its broadcast technology division into an independent company. Since then, BAMTech’s technology has been used to power the likes of Disney+ or Hulu It has become a key component of the company’s streaming infrastructure over the years.
Sounds like Disney It was already aiming to take full control of BAMTech From an American company He has invested heavilyIn recent years, up to November 2022, Disney owns 100% of streaming services. As early as 2016, according to the media TechCrunchThe company has invested $1 billion for a 33% stake in BAMTech. Then, in 2017, he took the spot $1.58 billion to buy an additional 42% stake. Recently, Disney bought out the National Hockey League (NHL). 10% share thereof, For an amount of 350 million dollars.
The action takes place on December 8, a few days before the start of the event. Cheapest subscription plan to advertise on Disney+what kind Netflix with its new offering.
Changes to come at Disney
This entire ownership of Disney streaming services comes at the same time Notice of resignation of the general manager of the company. From November 20, it’s Bob Iger, A former Disney executive is back at the helm of the company. He replaces former CEO Bob Sabek, whom he appointed to succeed him in February 2020.
In a memo to his staff sent Nov. 21, Bob Iger said The restructuring of the company is about to begin “ In the following weeks “. According to filings with the SEC, Disney’s new CEO is ” In the coming months the board of directors will initiate organizational and operational changes within the company to achieve its objectives “.
true, Times have been tough for Disney, hit by restrictions imposed by the pandemic. The American company had to do Close its amusement parks for extended periods of time reduces its revenue. Of course, The launch of its streaming offeringDisney+ allowed him to sign up with ESPN+ and Hulu, More than 235 million subscribers worldwide. However, despite Satisfactory results regarding the growth of its subscribers, The site suffered an operating loss of $1.5 billion In the quarter from August to October 2022. This is it Bob Iger pointed out When he took over the job in November, “ Disney should focus on making a profit instead of trying to increase subscriber growth “.