Media News

BRIEF-The Walt Disney Company acquires minority stake in Bamtech

Aug 9 (Reuters) - Walt Disney Co

* Under terms of transaction, disney will pay $1 billion in two installments

* Bamtech will become a key partner for Disney in delivery, support of streaming video, other digital products from Disney|ABC television group and ESPN

* Bamtech will also collaborate with espn to launch and distribute a new espn-branded multi-sport subscription streaming service in future

* As part of transaction, Bamtech was separated from mlb’s broader digital business, mlb advanced media

* The Walt Disney Company acquires minority stake in Bamtech

* New ESPN-branded multi-sport direct-to-consumer service to be launched

* Disney has option to acquire majority ownership in coming years

* Acquiring a 33% stake in Bamtech, leading technology services and video streaming company previously formed by major league baseball

* “current content on espn’s linear networks will not appear on new subscription streaming service”

* Following acquisition of stake in Bamtech, national hockey league received a minority interest in Bamtech, as result of previous agreement Source text for Eikon: Further company coverage: