MLB sells share of BAMTech to Walt Disney Co. for $900M
NEW YORK - Major League Baseball has sold its remaining share of a streaming service technology company to the Walt Disney Co. for $900 million.
The sale was disclosed Tuesday in Walt Disney Co.'s annual filing report through the SEC. MLB received the $900 million in exchange for the 15% stake it still had in a company called BAMTech, which originally started as MLB Advanced Media in 2000.
The technology helped MLB become a leader in sports streaming in the 2000s.
Walt Disney Co. has been buying chunks of BAMTech for the past five years and now owns 100% of the company. The National Hockey League sold its 10% share of BAMTech to Walt Disney Co. for a reported $350 million in 2021.