By Disney has reportedly agreed to take 100% control of streaming service Hulu in a deal with Comcast.
The latter has owned a one-third stake in the streamer ever since Disney’s acquisition of the 21st Century Fox entertainment assets. As part of an agreement between the two companies, Comcast had a put option to require Disney to take over its stake from November 1st this year.
They’ve now exercised that option, with a securities filing confirming NBCUniversal triggered the purchase earlier today. Disney says in a statement: “The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives.”
In the filing Wednesday, Disney said it expects to pay $8.61 billion by December 1st but will go through an appraisal process to see if the company will need to pay beyond that.
Disney CEO Bob Iger has signalled he wants to refocus the company on its beloved content brands including Pixar, Marvel and Lucasfilm along with the company’s family and kids fare.
What that means for Hulu is unclear, but the service’s incorporation into the Disney+ app seems highly likely within the coming months.
Source: THR
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