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COMCAST CORPORATION

(CMCSA)
  Report
Delayed Nasdaq  -  04:00:00 2023-02-08 pm EST
38.76 USD   -2.29%
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Disney buys MLB's stake in streaming firm BAMTech for $900 million

11/29/2022 | 08:43pm EST
FILE PHOTO: The entrance to Walt Disney studios is seen in Burbank

(Reuters) - Walt Disney Co disclosed on Tuesday that it has taken full control of BAMTech, a video-streaming firm spun off from Major League Baseball's digital media company MLB Advanced Media.

Disney earlier this month purchased the remaining stake in BAMTech from Major League Baseball for $900 million, the company said in a SEC filing.

Previous to the transaction, streaming technology services provider BAMTech was owned 85% by Disney and 15% by Major League Baseball (MLB).

BAMTech and MLB did not immediately respond to Reuters request for comment.

Disney back in 2016 began the process to acquire BAMTech by buying a 33% stake for $1 billion to allow it to sell more content directly to consumers.

BAMTech provides the streaming platform for such entities as Worldwide Wrestling Entertainment and Warner Bros Discovery Inc's HBO.

Disney, which has been expanding into multimedia services, said it will take full control of Hulu service in a deal with Comcast Corp, as it vies for a bigger piece of the global video streaming market dominated by companies such as Netflix Inc.

Streaming service provider Hulu is owned 67% by Disney and 33% by NBC Universal (NBCU).

Disney said last week that Bob Iger is returning to the company as chief executive less than a year after he retired, a surprise comeback that coincides with the entertainment company's attempt to boost investor confidence and profit at its streaming media unit.

Iger said on Monday one of his top priorities is to make the company's streaming business profitable.

Disney on Tuesday said the company anticipates organizational and operational changes that could result in impairment charges in the coming months. Disney said Iger's mandate is to put the company on the path for renewed growth.

(Reporting by Mrinmay Dey in Bengaluru; Editing by Stephen Coates)


ę Reuters 2022
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ADVANCED MEDIA, INC. -2.05% 1428 Delayed Quote.10.24%
COMCAST CORPORATION -2.29% 38.76 Delayed Quote.13.44%
DIGITAL MEDIA SOLUTIONS, INC. -2.19% 1.34 Delayed Quote.2.24%
NETFLIX, INC. 1.07% 366.83 Delayed Quote.24.40%
WALT DISNEY COMPANY (THE) 0.13% 111.78 Delayed Quote.28.49%
WARNER BROS. DISCOVERY, INC. -5.02% 14.56 End-of-day quote.53.59%
WEBUILD S.P.A. -0.12% 1.71 Delayed Quote.24.51%
All news about COMCAST CORPORATION
02/06Comcast Considers Issuing Green Bonds to Fund Climate Goals
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02/06Comcast Signs Agreements with State of Indiana
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Analyst Recommendations on COMCAST CORPORATION
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Financials (USD)
Sales 2023 120 B - -
Net income 2023 13 805 M - -
Net Debt 2023 90 682 M - -
P/E ratio 2023 11,7x
Yield 2023 2,98%
Capitalization 163 B 163 B -
EV / Sales 2023 2,11x
EV / Sales 2024 2,08x
Nbr of Employees 186 000
Free-Float 81,8%
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Technical analysis trends COMCAST CORPORATION
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 36
Last Close Price 38,76 $
Average target price 43,60 $
Spread / Average Target 12,5%
EPS Revisions
Managers and Directors
Brian L. Roberts Chairman & Chief Executive Officer
Michael J. Cavanagh President
Jason S. Armstrong Chief Financial Officer & Treasurer
Jeff Votaw Vice President-Engineering
Candy Lawson Chief Compliance Officer & Senior Vice President
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