Whoa interesting news Along with earnings, Walt
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Posted On: 08/08/2017 4:25:36 PM
Whoa interesting news
Along with earnings, Walt Disney (NYSE
IS) has announced it will take majority control of BAMTech, auguring a landscape shift in its distribution.
Disney will launch an ESPN-branded multi-sport streaming service early next year, along with a Disney-branded direct-to-consumer service in 2019.
It will pull its movies from Netflix (NASDAQ:NFLX).
Disney's paying $1.58B to take an additional 42% of BAMTech from MLB Advanced Media, adding to its 33% stake.
Disney shares are off 2.8% after hours; Netflix has dropped 6.4% in postmarket trading.
Along with earnings, Walt Disney (NYSE
IS) has announced it will take majority control of BAMTech, auguring a landscape shift in its distribution. Disney will launch an ESPN-branded multi-sport streaming service early next year, along with a Disney-branded direct-to-consumer service in 2019.
It will pull its movies from Netflix (NASDAQ:NFLX).
Disney's paying $1.58B to take an additional 42% of BAMTech from MLB Advanced Media, adding to its 33% stake.
Disney shares are off 2.8% after hours; Netflix has dropped 6.4% in postmarket trading.
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