Disney earlier this month exercised its right to buy the NHL’s 10% stake in streaming technology services group BAMTech for $350 million in a deal expected to close by the end of September. In its …
In its quarterly report filed with the SEC – which is more detailed than the earnings press release from earlier this afternoon – Disney noted thatalso has the right to sell its 15% interest in BAMTech to Disney, and Disney to buy it – called a put/call option — starting in September of 2022 at the greater of fair value or a guaranteed floor value. As of July 3, 2021, it said, the guaranteed floor value for the MLB interest was $752 million. Disney owns the rest of BAMTech.
Major League Baseball created the streaming tech company in 2015 from its MLB Advanced Media. Disney bought a majority in 2017., which is owned 67% by Disney and 33% by NBC Universal. A put//call agreement from May of 2019 that gave Disney full operational control of Hulu allows it buy or NBC to sell its interest beginning in January of 2024 for a price based onWatch on Deadline
Disney reported better-than-expected earnings today, with higher revenue, a swing to net profits and 116 million Disney+ subscribers for the June quarter.
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