Walt Disney (DIS.N) on Wednesday formally began the process of buying Comcast's (CMCSA.O) one-third stake in Hulu, a deal that will give Disney full ownership of the streaming service and freedom to incorporate it into the Disney+ streaming service.
A smartphone with displayed "Disney" logo is seen on the keyboard in this illustration taken March 24, 2020. REUTERS/Dado Ruvic/File Photoone-third stake in Hulu, a deal that will give Disney full ownership of the streaming service and freedom to incorporate it into the Disney+ streaming service.
The Burbank, California-based entertainment conglomerate gained a controlling interest in Hulu as part of its $71 billion acquisition of 21st Century Fox's film and television assets. The transaction gave the studio a competitive leg up in the streaming wars. Hulu's equity fair value will be assessed as of Sept. 30, 2023, under agreed terms. If the value is determined to be greater than the guaranteed floor value, Disney will pay NBCU the difference, Disney said.
While the timing of the appraisal process is uncertain, Disney anticipates it to be completed in 2024.
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