Comcast Corp has agreed to give Walt Disney Co full control of Hulu in a deal th...
FILE PHOTO: The entrance gate to The Walt Disney Co is pictured in Burbank, California February 5, 2014. REUTERS/Mario Anzuoni
In a statement on Tuesday, the companies said Disney would immediately assume full operational control of Hulu under an agreement that allows either company to trigger a sale of Comcast’s 33% stake to Disney after January 2024. Disney, which is trying to challenge the dominance of Netflix in a competitive streaming landscape, is preparing to launch its own streaming service called Disney+ on Nov. 12 and the control of Hulu would add weight to the company’s goals.Last month, Hulu said it had bought back wireless carrier AT&T Inc’s stake in the U.S. entertainment streaming service for $1.43 billion, in a deal that valued Hulu at $15 billion.
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