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Disney has announced that it will acquire the remaining 33 percent stake in Hulu, which is currently owned by Comcast. The deal is valued at approximately $8.61 billion. “The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” Disney said.
In 2019, the two companies had agreed that Comcast could require Disney to buy its stake by next year, and Disney could require Comcast to sell.
Initially, the deal was set to take place in 2024, but the companies agreed to move it up to September 30th. As part of the agreement, the two companies set a minimum valuation of $27.5 billion for Hulu, but Disney says that the timing of the appraisal process is uncertain, and it expects it to be completed sometime next year.
The $8.6 billion that Disney is paying would value the streaming service at $27.5 billion. However, the valuation is said to be the starting point for future negotiations over Hulu’s valuation. The appraisal is projected to be completed in 2024, as per Disney’s expectations.
During an investors conference in September, Comcast CEO Brian Roberts said the amount “was just a hypothetical that we picked five years ago.” “The company is way more valuable today than it was then,” he added further. Comcast CEO Brian Roberts recently stated that he believes Hulu is worth $60 billion.
Earlier this year, Disney announced that it plans to launch a new streaming service that combines both Disney+ and Hulu content. The “one-app experience” will be available by the end of 2023. Disney CEO Bob Iger stated that this new service is a natural evolution of the company’s direct-to-consumer offerings and will provide more opportunities for advertisers. Additionally, subscribers who choose to bundle will have access to more comprehensive and streamlined content.
In 2019, the two companies had agreed that Comcast could require Disney to buy its stake by next year, and Disney could require Comcast to sell.
Initially, the deal was set to take place in 2024, but the companies agreed to move it up to September 30th. As part of the agreement, the two companies set a minimum valuation of $27.5 billion for Hulu, but Disney says that the timing of the appraisal process is uncertain, and it expects it to be completed sometime next year.
The $8.6 billion that Disney is paying would value the streaming service at $27.5 billion. However, the valuation is said to be the starting point for future negotiations over Hulu’s valuation. The appraisal is projected to be completed in 2024, as per Disney’s expectations.
During an investors conference in September, Comcast CEO Brian Roberts said the amount “was just a hypothetical that we picked five years ago.” “The company is way more valuable today than it was then,” he added further. Comcast CEO Brian Roberts recently stated that he believes Hulu is worth $60 billion.
Earlier this year, Disney announced that it plans to launch a new streaming service that combines both Disney+ and Hulu content. The “one-app experience” will be available by the end of 2023. Disney CEO Bob Iger stated that this new service is a natural evolution of the company’s direct-to-consumer offerings and will provide more opportunities for advertisers. Additionally, subscribers who choose to bundle will have access to more comprehensive and streamlined content.
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