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Disney stated Wednesday that it had agreed to purchase Comcast‘s one-third stake in streaming service Hulu, a long-expected end result.
Disney stated it expects to pay Comcast’s NBCUniversal about $8.61 billion by Dec. 1, reflecting the assured minimal worth of $27.5 billion for the streaming service the 2 sides agreed upon in 2019. That deal sprung from Disney’s buy of Fox’s leisure belongings, which gave it two thirds of Hulu.
Disney might pay extra based mostly on Hulu’s fairness worth as of Sept. 30. The corporate stated the appraisal course of ought to wrap up a while subsequent yr.
“We look ahead to the appraisal course of and the dedication of Hulu’s truthful market worth which we count on will mirror the extraordinary worth of the enterprise,” Comcast stated in a press release.
Initially, Disney and Comcast had set a deadline to resolve Hulu’s possession by January. In September, the rival media giants moved up that deadline, successfully acknowledging the end result introduced Wednesday.
Disney already sells Hulu as a part of a streaming bundle with its Disney+ and ESPN+ merchandise.
Learn the full launch from Disney.
Disclosure: Comcast’s NBCUniversal is the father or mother firm of CNBC.
