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Disney To Own All Of Hulu Stake From Comcast’s NBC Universal
Disney will now have full ownership of Hulu after it agreed to purchase the whole stake of the streaming provider from Comcast?s NBCUniversal. This was a long-awaited transaction, and it came after Disney purchased Fox Entertainment?s assets in 2019. Currently, Disney sells Hulu along with the streaming bundle containing Disney+ and ESPN+.
On Wednesday, Disney agreed to purchase Comcast?s one-third stake in Hulu, which is a streaming service. Disney was the owner of the rest of the stake. This move was expected from Disney for a long time and is currently at play.
Disney said that it will likely pay about $8.61 billion to NBCUniversal?s parent company, Comcast. Comcast is also a rival of Disney and currently owns a one-third stake in Hulu.
According to CNBC.com,
?Disney said it expects to pay Comcast?s NBCUniversal about $8.61 billion by Dec. 1, reflecting the guaranteed minimum value of $27.5 billion for the streaming service the two sides agreed upon in 2019. That deal sprang from Disney?s purchase of Fox?s entertainment assets, which gave it two-thirds of Hulu.?
As of September 30, Disney could pay more based on the equity value of Hulu. The company also stated that it would try to wrap up its appraisal process for some time next year. It also wants to determine Hulu?s fair market value, which would reflect the business?s extraordinary value.
Both Disney and Comcast have previously set a deadline to resolve the ownership of Hulu by January 2024. However, in September, both media rivals moved up the deadline, thereby effectively acknowledging the outcome.
Currently, Disney sells Hulu as a part of its streaming bundle along with other subscription services like Disney+ and ESPN+.
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