Aug
11
Disney to Start a Sports Streaming Service — but It's Not ESPN Over the Top
Posted in: Uncategorized
Walt Disney Co. on Tuesday reported quarterly profit that beat analysts’ profit projections, as strong performances from films including “Captain America: Civil War” and “Finding Dory” countered a challenging period for TV and consumer products.
Disney also said Tuesday that it will buy a minority stake in BAMTech, a technology and streaming company formed by Major League Baseball, and will start a web-based sports network under the ESPN brand as part of that deal. The new streaming sports network will not carry the same content as the existing ESPN cable networks, however.
The company will pay $1 billion in two installments, now and in January 2017.
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