Disney reshapes TV with US$1b streaming deal, ESPN online
Shares down despite higher-than-forecast profit from motion-picture hits and theme parks
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Los Angeles
WALT Disney Co reported third-quarter results that reflected tough times for its TV business and said it's taking big steps in online video to adapt to changing consumer viewing habits.
The world's largest entertainment company said on Tuesday it will pay US$1 billion for a one-third stake in BAMTech, a technology and streaming business formed by Major League Baseball, and launch a new web-based ESPN service this year.
The company also said networks including ESPN and the Disney Channel will be part of a new online video service planned by AT&T Inc's DirecTV divisi…
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