Disney set to acquire Hulu in blockbuster $8 billion deal with Comcast
Disney is on track to fully acquire streaming platform Hulu, with the entertainment juggernaut set to purchase the remaining percentage of the stake from Comcast in a deal that is aiming to go through in 2024.
When it comes to the world of entertainment, Disney is slowly but surely becoming the dominant force. As well as their classic Disney products, the company now is in charge of all Marvel content, Star Wars content, and just a few years ago even acquired all 21st Century Fox entertainment assets.
And while the Bob Iger-led company currently owns a third of Hulu, they have their sights set on acquiring complete control by buying out the rest of the company from Comcast.
“The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” Disney outlined in a new statement, as revealed by The Hollywood Reporter.
In the same filing, Disney added that they are anticipating paying $8.61 billion by December 1, 2023, to get the ball rolling on the deal. However, this number is not set in stone as an appraisal process of Hulu’s worth still needs to be completed.
“While the timing of the appraisal process is uncertain, we anticipate it should be completed during the 2024 calendar year,” Disney said.
If this deal does go through, Hulu under the Disney banner will be another major boon for the company in its quest to further its presence as a streaming platform. After all, Disney+ has become a major player with new Star Wars content, Marvel shows, and more all featured on the site. With Hulu under their belt as well, Disney will have another opportunity to grow its streaming presence.
For CEO Bob Iger, the acquisition of Hulu could be another avenue for the company to refocus back on its iconic brands and further develop them once again.
During an interview with CNBC in February 2023, the CEO said, “Everything is on the table right now, so I am not going to speculate whether we are a buyer or a seller of it. But I obviously have suggested that I’m concerned about undifferentiated general entertainment [content], particularly in the competitive landscape that we are operating in.”
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