More info about Disney Plus
In August 2016, Disney acquired a minority stake in BAMTech (a spin-out of MLB Advanced Media's streaming technology business) for $1 billion, with an option to acquire a majority stake in the future. Following the purchase, ESPN announced plans for an "exploratory [over-the-top] project" based on its technology (ESPN+) to supplant its existing linear television services. On August 8, 2017, Disney invoked its option to acquire a controlling stake in BAMTech for $1. 58 billion, increasing its stake to 75%. Alongside the acquisition, the company also announced plans for a second, Disney-branded direct-to-consumer service drawing from its entertainment content, which would launch after the company ends its existing distribution agreement with Netflix in 2019. Soon there after, Agnes Chu, story and franchise development executive at Walt Disney Imagineering, was the first appointed executive, senior vice president of content, for the unit.