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Tara Lachapelle

Disney's Latest Deal: What Streams Are Made Of

The entertainment giant's sports network gets more direct access to viewers.

Walt Disney Co. just bought a $1 billion present for its favorite child.

The $157 billion entertainment conglomerate confirmed Tuesday (after months of news reports) that it's purchasing a third of BAMTech, the video-streaming company that was carved out of Major League Baseball's digital side. It also has the option to buy a majority stake "in the coming years."