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Wednesday, November 30, 2022

Disney Pays $900M for MLB’s Remaining Stake in Streaming Company BAMTech

The Walt Disney Co. has officially acquired 100 percent of BAMTech, the streaming video technology company that it acquired majority ownership of in 2017 from Major League Baseball.

According to a footnote in the company’s annual report, which it filed Tuesday, Disney paid Major League Baseball $900 million for its 15 percent stake in the company, now known as “Disney Streaming,” earlier in November.

Disney and the sports league had the right to force a buyout of the stake based on its fair market value beginning earlier this year. Disney had bought the National Hockey League’s 10 percent stake in BAMTech for $350 million last year.

RoyalsRetro (AG#1F) Posted: November 30, 2022 at 08:55 AM | 5 comment(s) Login to Bookmark
  Tags: bamtech

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   1. villageidiom Posted: November 30, 2022 at 11:22 AM (#6107305)
So when your favorite team cries poor this winter, keep in mind they're each due another $30 million windfall from this.
If MLB hadn't created BAMTech, but MLBPA did, would the players deserve lower MLB contracts when MLBPA sells a 15% stake in it for almost a billion dollars?
   2. Walt Davis Posted: November 30, 2022 at 01:31 PM (#6107327)
Wait ... 10% cost $350 M and a year later 15% cost $900 M. I need to have a chat with the folks managing my retirement fund cuz that is, umm, slightly better return than I've gotten the last year.
   3. The Yankee Clapper Posted: November 30, 2022 at 02:30 PM (#6107339)
Wait ... 10% cost $350 M and a year later 15% cost $900 M.
   4. Cris E Posted: November 30, 2022 at 06:19 PM (#6107388)
No one has ever accused the NHL braintrust of being the best business minds.
   5. RoyalsRetro (AG#1F) Posted: December 02, 2022 at 09:09 AM (#6107575)
More details from Maury Brown at Forbes.

In 2017, Disney slowly began the process of the purchase, beginning with a 33% stake in BAMTech, in two installments totaling $1 billion, and under that agreement, it had the option to acquire a majority stake over several years. Disney then acquired an additional 42% stake, for $1.58 billion. Major League Baseball and its 30 team owners had retained a 15% of the company. Disney had the right to buy MLB’s interest starting five years from and ending ten years after the company’s September 25, 2017 acquisition date of BAMTech, and according to the report, the transaction has now taken place.

The complete sale of what is now Disney Streaming by MLB to the Walt Disney Co. totals $3.48 billion, or $116 million to each of the league’s owners, notwithstanding costs to build BAMTech out.

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