Disney to pull its content from Netflix and launch its own streaming service

During its Q3 earnings report, Disney announced plans to launch its own streaming service in 2019. As part of this shift in business, the company will end its distribution agreement with Netflix. The company also announced that it has agreed to acquire an additional 42 percent stake in BAMTech. The $1.58 billion makes Disney a majority stakeholder and will give it greater control over the ESPN-branded multi-sport video streaming service due to launch in early 2018. The ESPN-branded service will feature Major League Baseball, National Hockey League, Major League Soccer, and more, and will be accessible through a new version… [Continue Reading]