Disney to buy remaining Hulu stake from Comcast

Disney will now own all of Hulu after agreeing to purchase the remaining one-third stake from Comcast's NBCUniversal.
The long-expected transaction sprang from the aftermath of Disney's purchase of Fox's entertainment assets in 2019.
Disney sells Hulu as part of a streaming bundle with Disney+ and ESPN+.

Disney said Wednesday that it had agreed to buy Comcast's one-third stake in streaming service Hulu, a long-expected outcome.

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Disney said it expects to pay Comcast's NBCUniversal about $8.61 billion by Dec. 1, reflecting the guaranteed minimum value of $27.5 billion for the streaming service the two sides agreed upon in 2019. That deal sprang from Disney's purchase of Fox's entertainment assets, which gave it two-thirds of Hulu.

Disney could pay more based on Hulu's equity value as of Sept. 30. The company said the appraisal process should wrap up some time next year.

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"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," Comcast said in a statement.

Originally, Disney and Comcast had set a deadline to resolve Hulu's ownership by January. In September, the rival media giants moved up that deadline, effectively acknowledging the outcome announced Wednesday.

Disney already sells Hulu as part of a streaming bundle with its Disney+ and ESPN+ products.