Disney has opted to buy out Comcast’s one-third stake in Hulu and take full control of the streaming platform.
“The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” the company said in a statement about the deal (via The Hollywood Reporter).
Beginning this month, Comcast had a put option requiring Disney to take over its stake, while the House of Mouse had the option to call upon Comcast to sell its stake. The two parties had agreed that Hulu would get a fair market value assessment from independent experts.
Related Video
According to Disney’s filing, it expects to pay $8.61 billion by December 1st, though the company will still go through the appraisal process to determine Hulu’s fair market value and see how much it might need to pay beyond that number. “While the timing of the appraisal process is uncertain, we anticipate it should be completed during the 2024 calendar year,” Disney said.
Back in February, Disney CEO Bob Iger stated that he hadn’t ruled out a sale of the company’s stake in Hulu. “Everything’s on the table right now,” he said at the time. “I’m not gonna speculate about whether we’re a buyer or seller of it. But I obviously have suggested that I’m concerned about undifferentiated general entertainment [content], particularly in the competitive landscape that we are operating in.”
Last month, ad-free plans for both Disney+ and Hulu saw substantial price increases go into effect. However, new subscribers can get a 30-day trial of Hulu here and Disney+ here.
Editor’s Note: Purchase the I Never Skip collection and other exclusive merchandise at Consequence Shop.
