Wednesday, August 9, 2017
Disney's Entry Price To Streaming Services: $1.58 Billion
Burbank-based The Walt Disney Company made the first move to create its own streaming service on Tuesday, saying it will launch two different video streaming services--one focused on sports, under the ESPN brand, and another direct-to-consumer service under the Disney brand in 2019. To help power those services, Disney also announced Tuesday that it will pay $1.58 billion to buy an additional 42 percent stake in BAMTech, the streaming video services arm of MLBAM, the interactive arm of Major League Baseball. Disney already owned a 33 percent stage in BAMTech. Disney plans to first launch a "multi-sport" video streaming services under the ESPN name in early 2018, before its Disney-branded consumer services in 2019. Disney said MLBAM and NHL will continue as minority stakeholders in BAMTech.