Disney paying additional $438.7M to buy out NBCUniversal's Hulu stake
Walt Disney said Monday it has completed its purchase of Hulu, agreeing to pay NBCUniversal an additional $438.7 million for its stake in the streaming service.
The transaction gives Disney complete ownership of Hulu, clearing the way for a deeper integration with the Disney+ streaming service, and ESPN's coming direct-to-consumer offering, CEO Bob Iger said in a statement.
The transaction gives Disney complete ownership of Hulu, clearing the way for a deeper integration with the Disney+ streaming service, and ESPN's coming direct-to-consumer offering, CEO Bob Iger said.
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Comcast agreed to sell Disney its 33% stake in Hulu in 2019, after the Burbank entertainment conglomerate acquired a majority stake the streaming service as part of its $71 billion takeover of 21st Century Fox's entertainment assets.
The agreement established a $27.5 billion floor valuation for Hulu, and set a process for arriving at a fair-market value that involved a third party appraisal that arrived at a final valuation.
Comcast agreed to sell Disney its 33% stake in Hulu in 2019. The agreement established a $27.5 billion floor valuation for Hulu
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Hulu, which boasts popular original titles such as 'The Bear' and 'Only Murders in the Building,' had 54.7 million subscribers at the end of Disney's second quarter.
'Hulu was a great start for us in streaming that generated nearly $10 billion in proceeds for Comcast and created an important audience for NBCUniversal's world-class content,' Comcast said in a statement.
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