The Walt Disney Co. said it plans to begin launching Disney and ESPN branded direct to consumer products.
Disney said it acquired a majority ownership in BAMTech LLC to serve as the technology backbone for the new products.
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The announcements came as the company announced lower profits in its third quarter.
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Disney said it will pay $1.58 billion to acquire an additional 42% stake in BAMTech, the technology services and video streaming spin-off of MLB Advanced Media (MLBAM).
The first direct to consumer products will be an ESPN-Branded multi-sport video streaming service that will launch in early 2018. It will be followed by a Disney braded streaming service in 2019.
Read more at B&C.