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Disney Takes Full Ownership of Hulu in Long-Anticipated Acquisition
November 2, 2023
In a widely anticipated move, The Walt Disney Company has announced its acquisition of Comcast’s remaining 33% stake in Hulu, solidifying Disney’s control over the popular streaming platform. Disney plans to pay at least $8.61 billion for Comcast’s stake, though this amount could rise based on an appraisal of Hulu’s equity value as of Sept. 30 this year.
When the companies first entered into an agreement in 2019, they gave Hulu a valuation of at least $27.5 billion, which is the guaranteed minimum Disney has to pay Comcast in total, even if the streaming service is found to be worth less after its appraisal.
Comcast said in a statement, “We look forward to the appraisal process and the determination of Hulu’s fair market value which we expect will reflect the extraordinary value of the business.”
This strategic acquisition marks a significant step forward in Disney’s digital content strategy and aligns with its broader digital streaming ambitions. By gaining full ownership of Hulu, Disney can further integrate the platform into its expansive portfolio of content offerings, bolstering its position in the competitive streaming landscape.
The decision comes at a time when Disney is planning to make “dramatic shifts in its media business,” according to CNN Business, with CEO Bob Iger “openly floating the possibility it could sell off its ABC division and is on the hunt for a ‘strategic partner’ for ESPN as it aims to quickly transition from the linear television business to streaming.”
Hulu, which was founded in 2007, has been a key player in the streaming industry, known for its diverse content library and original programming. With this acquisition, Disney gains even more control over the platform’s content strategy, allowing for greater synergies and cross-promotion with its existing brands and franchises. It also gives Disney greater flexibility in shaping the platform’s future direction to better cater to the evolving needs of its audience.
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