Disney To Launch Direct-to-Consumer Streaming Service

As a hedge against cord-cutting and the growing power of streaming services like Netflix, Disney announced the launch of their own streaming service for its Disney, Pixar, and live sports programming. Starting in 2019, Disney will charge consumers directly for access to its most popular content. To help support and launch the new service, Disney acquired majority control of BAMTech, the streaming service of Major League Baseball, for $1.58 billion. No word yet on how much Disney plans to charge consumers, but Wall Street isn't convinced; Disney stock fell 5% on the news.

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