Disney has cut a check of nearly a billion dollars to fully own Disney Streaming, the entity formerly known as BAMTech.
Per The Hollywood Reporter, Disney has bought out MLB’s remaining 15% stake in Disney Streaming for a cool $900 million. Last summer, Disney paid the NHL $350 million for their 10% stake in the company
According to a footnote in the company’s annual report, which it filed Tuesday, Disney paid Major League Baseball $900 million for its 15 percent stake in the company, now known as “Disney Streaming,” earlier in November.
Disney and the sports league had the right to force a buyout of the stake based on its fair market value beginning earlier this year. Disney had bought the National Hockey League’s 10 percent stake in BAMTech for $350 million last year.
Disney has been investing in the streaming operation for years now. Back in the summer of 2016, the company initially invested $1.1 billion in what was then known as BAMTech for a 33% stake. A year later, Disney increased their ownership to 75% for another $1.58 billion. The NHL got bought out last summer, and MLB officially exited the picture with this latest investment by Disney.
All in all, this seemed like the most inevitable outcome from Disney’s initial investments in the company six years ago, especially as the streaming world continued to grow. MLB also gets one last bite of the apple from Disney Streaming, which has been quite a lucrative revenue driver for the league over the years.
[The Hollywood Reporter]