August 8, 2017 / 8:32 PM / 10 months ago

BRIEF-The Walt Disney Company to acquire majority ownership of BAMTech

Aug 8 (Reuters) - Walt Disney Co

* The Walt Disney Company to acquire majority ownership of BAMTech

* Walt Disney Co - ‍under terms of transaction, Disney will pay $1.58 billion to acquire an additional 42% stake in BAMTech​

* Walt Disney Co - ‍BAMTech transaction is expected to be modestly dilutive to Disney's earnings per share for two years​

* Walt Disney -will end distribution agreement with Netflix for subscription streaming of new releases, beginning with 2019 calendar year theatrical slate​

* Walt Disney Co - ‍BAMTech transaction is subject to regulatory approval, and upon closing, Iger will serve as chairman of BAMTech board​

* Walt Disney - ‍plans are for Disney, ESPN streaming services to be available for purchase directly from Disney, ESPN, in app stores, from authorized MVPDs​

* Walt Disney Co - ‍MLBAM and NHL will continue as minority stakeholders in BAMTech, with seats on board​

* Walt Disney Co - ‍John Skipper, ESPN president and co-chairman, Disney Media Networks, will manage new ESPN-branded service​ Source text for Eikon: Further company coverage:

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