Disney buying NHL's stake in streaming platform

Disney will pay the NHL $350M to buy the league’s 10% stake in Disney Streaming Services, "the Disney subsidiary that manages the technology platforms that power the company’s streaming services, like Disney+ and ESPN+." Disney Streaming Services was previously known as BAMTech. The NHL "had an option to trigger the buyout this year, and according to Disney’s quarterly report, the league exercised its option on Aug. 3." The deal is "expected to close by the end of fiscal 2021." When the deal is complete, Disney will own 85% of BAMTech/Disney Streaming Services, with MLB holding the remaining 15% (HOLLYWOODREPORTER.com, 8/12).