BURBANK, Calif.—The Walt Disney Company has disclosed that it is buying the National Hockey League’s 10% stake in Disney Streaming Services for $350 million and that the deal is expected to close prior to the end of Disney’s fiscal 2021 year.
Major League Baseball created the operation, then known as BAMTech, as a spinoff of MLB Advanced Media, with NHL as a minority investor in 2015. Disney acquired a minority stake in 2016, which it increased to 75% in 2017. The operation was subsequently renamed Disney Streaming Services, which provides the technology for such Disney streaming services as Disney+ and ESPN+.
The NHL had the right to sell its stake to Disney in 2021 and it exercised that option on August 3.
When the deal closes Disney will have a 85% stake in Disney Streaming services with the rest held by MLB.
The disclosure was made in a 10-Q report filed by Disney with the SEC with its quarterly earnings on August 12.
George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.
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