NEW YORK (AP) — Major League Baseball has sold its remaining shares in a streaming technology company to Walt Disney Co. for $900 million.
The sale was disclosed Tuesday as part of Walt Disney Co.’s annual report to the Securities and Exchange Commission (SEC). MLB received $900 million in the deal for a 15% stake it held in the company BAMTech, which started in 2000 as MLB Advanced Media.
The technology helped MLB become the leader in sports streaming in the 2000s.
The Walt Disney Co. has acquired a stake in BAMTech in the past five years and now owns 100% of the company. The NHL sold 10% of BAMTech to the Walt Disney Co. for $350 million in 2021.
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