Disney Buys MLB’s Last Stake in Streaming Company BAMTech For $900M

    Walt Disney headquarters in Burbank, California.
    

    

    The Walt Disney Company has purchased the last outstanding share of BAMTech — the company that powers the company’s streaming offerings — for $900 million, the media conglomerate disclosed in a Securities and Exchange Commission filing on Tuesday.
    With the purchase of Major League Baseball’s 15% stake, Disney now owns all of the streaming technology services company that delivers Disney Plus, Hulu and other direct-to-consumer services. The company, now known as Disney Streaming, was formed in 2000 as MLB Advanced Media to run the league’s online operations and its MLB.com Web site before a shift in focus to streaming led to a spin off of the streaming division then known as BAMTech.
    Disney’s interest in the company began in 2016 with a $1 billion investment that gave it a 33% stake, with an option to acquire a greater ownership stake over the years. A year later, it paid an additional $1.58 billion for a 75%, and last year, the company bought the National Hockey League’s 10% stake for $350 million.
    The acquisition was completed in November, amid the company’s board of directors’ surprise move to oust CEO Bob Chapek and bring back former chief Bob Iger as Chapek’s replacement. Iger will fill the role for two years, the board said, to “set the strategic direction for renewed growth.”