The Walt Disney Co. said it plans to begin launching Disney and ESPN branded direct to consumer products.
Disney said it acquired a majority ownership in BAMTech LLC to serve as the technology backbone for the new products.
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The announcements came as the company announced lower profits in its third quarter.
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Disney said it will pay $1.58 billion to acquire an additional 42% stake in BAMTech, the technology services and video streaming spin-off of MLB Advanced Media (MLBAM).
The first direct to consumer products will be an ESPN-Branded multi-sport video streaming service that will launch in early 2018. It will be followed by a Disney braded streaming service in 2019.
Read more at B&C.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.