{"id":5739,"date":"2023-11-01T21:58:28","date_gmt":"2023-11-01T21:58:28","guid":{"rendered":"https:\/\/connectwithfund.com\/business\/disney-to-acquire-remaining-stake-in-hulu-for-expected-8-6-billion\/"},"modified":"2023-11-01T21:58:28","modified_gmt":"2023-11-01T21:58:28","slug":"disney-to-acquire-remaining-stake-in-hulu-for-expected-8-6-billion","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=5739","title":{"rendered":"Disney to acquire remaining stake in Hulu for expected $8.6 billion"},"content":{"rendered":"
\n

\n Disney said Wednesday that it will acquire Comcast\u2019s 33% stake in Hulu for an expected $8.61 billion, making the streaming service wholly owned by the Magic Kingdom.\n <\/p>\n

\n \u201cThe acquisition of Comcast\u2019s stake in Hulu at fair market value will further Disney\u2019s streaming objectives,\u201d the company said in a short statement.\n <\/p>\n

\n Disney\u2019s bid to acquire the remaining shares in the streaming service began in 2019 under an agreement between the two companies that gave Hulu a value of at least $27.5 billion.\n <\/p>\n

\n Disney chief executive Bob Iger publicly signaled in recent months his intention to acquire the remaining shares of the streaming service, saying in March that Disney \u201cwas studying the business very, very carefully.\u201d\n <\/p>\n

\n The decision comes as the entertainment giant makes dramatic shifts in its media business, with Iger openly floating the possibility it could sell off its ABC division and is on the hunt for a \u201cstrategic partner\u201d for ESPN as it aims to quickly transition from the linear television business to streaming.\n <\/p>\n

\n Hulu, the subscription-based streaming platform, was founded in 2007 with joint ownership by a group of media companies \u2014 including 21st Century Fox, Comcast, and CNN\u2019s former parent company Time Warner. In recent years, those companies have begun to focus on their respective streaming platforms.\n <\/p>\n

\n In 2020, NBCU launched its own subscription-based streaming platform, Peacock, and Comcast began shifting programming from Hulu onto the new platform, including Bravo and NBC shows.\n <\/p>\n

\n But Hulu has continued to show growth with hit original movies and shows including \u201cThe Handmaid\u2019s Tale,\u201d \u201cThe Bear,\u201d and \u201cReservation Dogs,\u201d amassing more than 48 million subscribers even as the price of the service has continued to rise.\n <\/p>\n

\n Disney has also bundled the Hulu service as part of its larger portfolio of streaming services, including Disney+ and ESPN+, offering it at a discounted rate as part of the larger package. But Hulu has been a bright spot in Disney\u2019s portfolio as it works to quickly make streaming profitable and capture a large subscriber base lured by its vast entertainment library.\n <\/p>\n

\n \u201cI\u2019ve now had another three months to really study this carefully and figure out what is the best path for us to grow this business,\u201d Iger said on an earnings call in May. \u201cIt\u2019s clear that a combination of the content that is on Disney+ with general entertainment is a very positive, is a very strong combination from a subscriber perspective.\u201d\n <\/p>\n

\n Wednesday\u2019s deal brings to an end long-running speculation about the fate of Hulu, but still requires an appraisal process that is expected to be completed in 2024 to further assess the platform\u2019s fair value before a final sale price tag is agreed upon.\n <\/p>\n

\n Disney is set to report its quarterly earnings results on Nov. 8.\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Disney said Wednesday that it will acquire Comcast\u2019s 33% stake in Hulu for an expected $8.61 billion, making the streaming service wholly owned by the Magic Kingdom. \u201cThe acquisition of Comcast\u2019s stake in Hulu at fair market value will further Disney\u2019s streaming objectives,\u201d the company said in a short statement. Disney\u2019s bid to acquire the remaining shares in the streaming service began in 2019 under an agreement between the two companies that gave Hulu a value of at least $27.5 billion. Disney chief executive Bob Iger publicly signaled in recent months his intention to acquire the remaining shares of the<\/p>\n","protected":false},"author":1,"featured_media":5740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-5739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nDisney to acquire remaining stake in Hulu for expected $8.6 billion | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"Disney said Wednesday that it will acquire Comcast\u2019s 33% stake in Hulu for an expected $8.61 billion, making the streaming service wholly owned by the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/connectwithfund.com\/?p=5739\" \/>\n<meta property=\"og:locale\" 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