The Walt Disney Co. is set to acquire full control of Hulu after reaching an agreement to purchase Comcast’s NBCUniversal’s remaining stake in the streaming platform for $438.7 million. The deal, which concludes a years-long appraisal process, will see Disney consolidate its position in the competitive streaming market as it prepares to launch a new bundle with Warner Bros. Discovery later this summer.
The acquisition marks the end of Comcast’s involvement in Hulu, which began as a joint venture among major entertainment companies in 2007. Disney assumed operational control in 2019, when Comcast relinquished its decision-making authority and became a passive partner.
“We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck,” Disney CEO Bob Iger said in a statement in the filings. “Completing the Hulu acquisition paves the way for a deeper and more seamless integration of Hulu’s general entertainment content with Disney+ and, soon, with ESPN’s direct-to-consumer product, providing an unrivaled value proposition for consumers.”
The transaction is expected to close by July 24 and is not anticipated to affect Disney’s fiscal 2025 adjusted earnings. Following the announcement, Disney’s shares saw a modest increase in Tuesday morning trading. (AP)
The bundle, available in both ad-supported and ad-free versions, offers subscribers access to content from a wide array of brands, including ABC, CNN, DC, Discovery, Disney, Food Network, FX, HBO, HGTV, Marvel, Pixar, Searchlight, and Warner Bros. The ad-free version goes for $29.99 a month, while with ads it will set you back $16.99 monthly.
JB Perrette, CEO and president of global streaming and games for Warner Bros. Discovery, said in a statement at the time, “This new offering delivers for consumers the greatest collection of entertainment for the best value in streaming, and will help drive incremental subscribers and much stronger retention.”