ReutersReuters

Disney buys MLB's stake in streaming firm BAMTech for $900 mln

Walt Disney Co DIS disclosed on Tuesday that it has taken full control of BAMTech, a video-streaming firm spun off from Major League Baseball's digital media company MLB Advanced Media.

Disney earlier this month purchased the remaining stake in BAMTech from Major League Baseball for $900 million, the company said in a SEC filing.

Previous to the transaction, streaming technology services provider BAMTech was owned 85% by Disney and 15% by Major League Baseball (MLB).

BAMTech and MLB did not immediately respond to Reuters request for comment.

Disney back in 2016 began the process to acquire BAMTech by buying a 33% stake for $1 billion to allow it to sell more content directly to consumers.

BAMTech provides the streaming platform for such entities as Worldwide Wrestling Entertainment and Warner Bros Discovery Inc's HBO.

Disney, which has been expanding into multimedia services, said it will take full control of Hulu service in a deal with Comcast Corp, as it vies for a bigger piece of the global video streaming market dominated by companies such as Netflix Inc NFLX.

Streaming service provider Hulu is owned 67% by Disney and 33% by NBC Universal (NBCU).

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