MLB owners to be ENRICHED with $30 million each after Disney’s exquisite acquisition of BAMTech


MLB owners to be ENRICHED with $30 million each after Disney’s exquisite acquisition of BAMTech

MLB streaming services taken over by Walt Disney Co.

MLB and Walt Disney Co. communicated a major switch in the video-streaming providers on Tuesday, the 29th of November. The digital media rights were fished out of the hands of MLB Advanced Media and were handed to Disney with full control. Previously the services were owned 85% by the Walt Disney Co. and 15% by the MLB.

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The remaining stakes were purchased at an astounding $900 million, confirmed as per the company’s SEC filing. Disney’s involvement in the Major League Baseball streaming services came into action in 2016, when the company purchased a 33% stake at a whopping $1 Billion.

Eric Fisher detailed out, “Disney this month has paid MLB $900 million for the remaining 15% of BAMTech it didn’t already own following a series of prior deals. So when your favorite team cries poor this winter, keep in mind they’re each due another $30 million windfall from this.”

He further added to his tweet, “This essentially completes a series of transactions starting in 2016. Disney first invested $1 billion in BAMTech that year, $1.58 billion more in 2017 to gain controlling interest, and another $350 million earlier this year for the NHL’s minority stake.”

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Also Read: Disney acquires MLB’s remaining BAMTech Streaming Division at $900 million

BAMTech service provider now owned completely by Disney, MLB loses control

MLB streaming services taken over by Walt Disney Co.
MLB streaming services were taken over by Walt Disney Co.

“Also, MLB club owners might want to raise another glass for the MLBAM folks who built this lucrative technology, some of which aren’t there anymore.” SportBusiness columnist implied.

The Walt Disney Co. jumped to an 85% stake in 2017 when they added a $1.85 billion investment. BAMTech has previously provided services to the NHL and ESPN. Moreover, WWE (Worldwide Wrestling Entertainment) and Warner Bros Discovery Inc’s HBO also trust the media platform BAMTech.

BAMTech was founded 7 years ago in 2015 and has been building brands ever since, Disney+, Hulu, ESPN+, Star+, NHL.tv. The streaming services are now known to have around 221 million subscribers, they even overtook Netflix in the month of July, crossing their 220.7 million tallies.

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Disney announced that Bob Iger would be returning to the company to replace current CEO Bob Chapek, the company feels he would, “initiate organizational and operating changes within the Company to address the Board’s goals”

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