BAMtech Starts CEO Search as Bob Bowman Steps Back From Operational Role
Disney invested $1 billion in the streaming technology provider in August.
After spinning off from MLB Advanced Media, streaming technology provider BAMtech is searching for a CEO.
Bob Bowman, who oversees MLBAM and MLB Network as president of business and media, had been running BAMtech in addition to his other duties at the league, but is stepping back from that role now that the company has been spun into an independent business and received a $1 billion investment from Disney. He will remain on the board of BAMtech, an MLBAM spokesperson confirmed.
MLB has hired search firm Egon Zehnder to look for a CEO for the $3.5 billion business, which operates as the streaming provider for HBO Now, WatchESPN and other video products.
BAMtech started as an outgrowth of MLBAM as the technology used to power subscription service MLB.TV, which offers annual access to out-of-market games. But as the BAMtech grew into a viable stand-alone, Bowman began to plot a spinoff. The first step was a content deal with NHL that included selling a small stake. Then in August, Disney took a 33 percent stake with the option to buy a controlling share in four years.
MLBAM sources indicate that Bowman has always intended to implement a day-to-day leadership team once he spun out the business, and that it was his decision to begin the search for a full-time CEO.
Bowman remains president and CEO of MLBAM, which owns a majority stake in BAMtech. MLBAM will continue to oversee operations at the company until a new CEO is named.
Bloomberg was first to report that a CEO search was underway.