Disney is parting ways with Netflix.

The company said Tuesday that it will end its partnership with the streaming service in 2019.

Disney also announced it will launch its own streaming services, and plans to acquire a majority stake in BAMTech, a major streaming and marketing service.

Netflix (NFLX, Tech30) shares fell 5% after hours, Disney (DIS) slipped 2%.

CNNMoney (New York) First published August 8, 2017: 4:24 PM ET