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 the entire streaming technology services company that provides 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 manage the league’s online operations and its MLB.com website before a shift in focus to the streaming only lead to a split of the streaming division then known as BAMTech. .
Disney’s interest in the companythis gave him a 33% stake, with an option to acquire a larger stake over the years. A year later, it paid another $1.58 billion for 75%, and last year the company bought the National Hockey League’s 10% stake for $350 million.
The acquisition was completed in November, when the company’s board of directorsand bring back former chef Bob Iger as Chapek’s replacement. Iger will hold the position for two years, the board said, to “set the strategic direction for renewed growth.”