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Disney to Acquire Majority of BAMTech for $1.58B, to End NetFlix Streaming

Disney to Acquire Majority of BAMTech for $1.58B, to End NetFlix Streaming

Toy Story 4, the sequel to Frozen, and The Lion King from Disney live-action, along with other highly anticipated movies. Disney will also make a significant investment in an annual slate of original movies, TV shows, short-form content and other Disney-branded exclusives for the service. Additionally, the service will feature a vast collection of library content, including Disney and Pixar movies and Disney Channel, Disney Junior and Disney XD television programming. Plans are for the Disney and ESPN streaming services to be available for purchase directly from Disney and ESPN, in app stores, and from authorized MVPDs. “We’re very proud of the content distribution innovations driven by MLBAM and BAMTech over the past 15 years,” said Commissioner of Baseball Robert D. Manfred, Jr. “Major League Baseball will continue to work with Disney and ESPN to further grow BAMTech as it breaks new ground in technologies for consumers to access entertainment and sports programming.” “This is an exciting validation of our team, its achievements and the customer-centric platform it’s built,” said Michael Paull, Chief Executive Officer of BAMTech. “Yet, we’ve merely scratched the surface of what can be accomplished in a future where we combine Disney and ESPN’s world-class IP and our proprietary direct-to-consumer ecosystem.” The BAMTech deal is subject to regulatory approval, and upon closing, Iger will serve as Chairman of the BAMTech Board. MLBAM and NHL will continue as minority stakeholders in BAMTech, with seats on the Board. Mr. Paull will report to Kevin A. Mayer, Senior Executive Vice President and Chief Strategy Officer, The Walt Disney Company. John Skipper, ESPN President and Co-Chairman, Disney Media Networks, will manage the new ESPN-branded service. The BAMTech deal is expected to be modestly dilutive to Disney’s earnings per share for two years. Additional dilution as the company implements its direct-to-consumer strategy will be dependent on the company’s licensing approach and the level of investment in original programming.]]>

Alibaba $BABA to Invest and Partner with Steven Spielberg's Amblin Partners

Alibaba $BABA to Invest and Partner with Steven Spielberg's Amblin Partners

Dalian Wanda acquired a majority stake in Legendary Entertainment for $3.5 billion. Wanda has also partnered with Sony Pictures to market and co-finance some upcoming movie releases of Sony Corp’s film unit in China. In March, Wanda‘s AMC Entertainment (NYSE: AMC), acquired rival chain Carmike Cinemas for $1.1 billion, and in July it acquired London-based Odeon & UCI Cinemas Group, the largest theater exhibitor in Europe, from private equity firm Terra Firma, in a deal valued at £921 million. Photo: Steven Spielberg and Jack Ma. (Courtesy of Alibaba Pictures)]]>