Disney strikes deal with Comcast to assume full control of Hulu

Disney Assumes Full Control of Hulu in Deal With Comcast

Today, Disney takes the reins at Hulu. In exchange, Comcast can require Disney to buy NBCUniversal's 33 percent ownership interest in Hulu, as early as January 2024. In April, AT&T/Warner Media reached a deal to sell its 10% stake in Hulu back to the streaming company. At that future time, Disney can require NBCUniversal to sell its interest in Hulu for fair market value. The entertainment giant expects Hulu to have as many as 60 million subscribers by fiscal 2024, up from 25 million previous year, and is counting on it to complement the new Disney+ streaming service launching in November.

Disney has guaranteed a sale price for Comcast's stake in Hulu that will represent a valuation for the streaming-video joint venture of at least $27.5 billion (meaning Comcast stake will be worth a minimum of $9.2 billion). Now, The Walt Disney Company and Comcast Corporation have announced that Disney will assume full operational control of Hulu, effective immediately, in return for Disney and Comcast entering into a "put/call" agreement regarding NBCUniversal's 33% ownership interest in Hulu.

AT&T came by its Hulu stake after buying Time Warner, which invested $583 million in Hulu in 2016. NBCU is planning to launch a free, ad-supported streaming service next year.

NBCUniversal, too, will debut a streaming service in 2020.

As part of the deal, Comcast has extended Hulu's license on current NBCUniveral content on the streaming service.

In addition to that Marvel content, Hulu is development TV series based on Sweet Tooth, Motor Girl, Old City Blues, and Woke.

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