Disney finally owns all of Hulu, ending long tug-of-war with Comcast
Walt Disney Co. has agreed to pay Comcast Corp. an additional $438.7 million to finalize the Mouse House purchase of streaming service Hulu.
Disney in December 2023 initially paid Comcast $8.6 billion for NBCUniversal's one-third stake in the streaming service.
The final payment, announced Monday, brings the total to $9 billion, the amount the Burbank entertainment giant will ultimately pay Comcast for its stake.
This week's agreement came after an extended appraisal process as the two companies struggled over Hulu's actual value. The platform that is home to 'The Handmaid's Tale' and 'Only Murders in the Building' appears to be worth about $27.5 billion.
The resolution also represents a major step in Disney's years-long pivot to streaming.
'We are pleased this is finally resolved,' Disney Chief Executive Bob Iger said in a statement, acknowledging Disney's productive partnership with the Philadelphia-based company.
'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,' Iger said.
The two companies have had tense relations since Comcast launched a failed hostile takeover of Disney in 2004.
Tensions flared again seven years ago after Comcast jumped into Disney's bidding process for Rupert Murdoch's entertainment assets, substantially driving up the price for Disney.
Disney prevailed. It gained the majority stake in Hulu as part of its $71.3-billion acquisition of much of Murdoch's company in April 2019.
That spring, Disney and Comcast negotiated a pact that outlined the governance of the service while it was jointly owned by the two companies and also provided a blueprint to dissolve their partnership. At the time, they agreed that Hulu would be valued at no less than $27.5 billion, making Comcast's stake worth at least $8.6 billion.
Comcast's divestiture process began two years ago when Chief Executive Brian Roberts signaled that his company wanted out. The parties then entered into an appraisal process to find a value for Hulu.
Disney noted the $438.7 million payment was substantially less than what Comcast had wanted. The deal is expected to close by July 24.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
39 minutes ago
- Yahoo
China Matters' Feature: Low-altitude Economy -- A New Industry Reshaping Global Transportation
BEIJING, June 10, 2025 /PRNewswire/ -- From electric vehicles (EVs) to the 4,500-kilometer high-speed railway network that accounts for two thirds of the global total, China is forging a connected world with its outstanding strength. In the field of transportation, China is pioneering a brand-new frontier: the low-altitude economy. To put it in a simpler way, vehicles can transform into flying machines to facilitate people's daily travels. In the future, flying taxis, delivery drones, and airborne adventures are poised to redefine transportation. With the emergence of such companies as DJI drone, China accounts for over 70% of global civilian drone sales. EHang, a Guangzhou-based tech pioneer, has become the world's first company to secure full aviation certifications for its passenger-carrying flying vehicles. The market value of China's low-altitude economy skyrocketed to over $70 billion in 2023, achieving an impressive annual growth rate of 33.8%. What's more, a new low-altitude route between Shenzhen and Zhuhai cuts the three-hour drive down to a 20-minute flight. Faster, more affordable, and with Instagram-worthy views: this is how urban mobility is redefining itself. None of this would be possible without cutting-edge technology. With 5G-Advanced networks tracking aircrafts in real-time, drones can now help plant crops, deliver packages, aid disaster relief operations. This sector's rapid growth highlights its potential to reshape logistics, tourism, and emergency services, signaling vast economic opportunities. Technological advancements in renewable energy, Al, and telecommunications have accelerated the development of low-altitude technologies, while government support and private investments fuel the progress of the entire industry. By integrating radar systems, 5G networks, and Al-driven monitoring, China aims to build a secure, efficient low-altitude ecosystem for future generations. Click the link below to know more about this new technology. Stay tuned for more exciting content coming soon. YouTube Link: View original content to download multimedia: SOURCE China Matters Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Apollo Makes Strategic Investment in T.D. Williamson
Global infrastructure company T.D. Williamson (TDW) has received a strategic investment from Apollo— though Houston-based private equity firm SCF Partners will retain a majority ownership stake in the infrastructure company, TDW said June 10. SCF Partners acquired TDW in 2022. The size of Apollo's investment was not disclosed. TDW has been a leader in the pipeline maintenance and integrity industry for more than 100 years. The company's offerings include a suite of maintenance and asset optimization solutions that enhance safety, reliability and performance for the full lifecycle of pipeline infrastructure. The company holds more than 500 registered patents, including 'innovations in advanced isolation, integrated pigging, in-line integrity assessment and repair — deployed across both infrastructure and utility end markets,' the company said. '…We are committed to delivering best-in-class, technically differentiated solutions to support the evolving needs of the operators of critical pipeline infrastructure. This investment by Apollo Funds, alongside our existing relationship with SCF Partners, marks a significant milestone in our journey as we continue to invest in meeting the needs of our customers through innovation and expanding our global reach," said TDW CEO Bob McGrew Scott Browning, partner at Apollo, said TDW has a long track record of innovation and customer service and that the investment company will support TDW management and SCF to accelerate strategic growth initiatives. "For over a century, TDW has stood at the forefront of pipeline integrity and innovation," commented Deviyani Misra-Godwin, managing director at SCF. "Over the past three years, we've seen tremendous growth in the company, with the team expanding its technology and product portfolio, deepening customer relationships, and continuing to lead the way on safety and operational excellence. We're honored to continue to work alongside TDW's world-class team and excited to welcome Apollo Funds as a strategic partner in this next chapter of growth." TDW and SCF Partners were advised by Vinson & Elkins LLP. Kirkland & Ellis LLP advised the Apollo Funds.
Yahoo
an hour ago
- Yahoo
Qantas to close low-cost arm Jetstar Asia
Australia's Qantas said on Wednesday it will close Jetstar Asia, the group's Singapore-based budget airline, as it reels with rising supplier costs, higher airport fees and intensifying competition among low-cost carriers. The move will free A$500 million ($326.40 million) in capital for the flag carrier to invest in its fleet renewal plans. Qantas said that 13 Jetstar Asia Airbus A320 aircraft will be progressively redirected to Australia and New Zealand. Jetstar Asia continues to be negatively affected by rising supplier costs, high fees at airports and rising competition in the region, fundamentally challenging its ability to deliver returns comparable to the stronger performing core markets in the group. Group CEO Vanessa Hudson said the company has seen some supplier costs rise by up to 200%, materially changing its cost base. 'We are currently undertaking the most ambitious fleet renewal program in our history, with almost 200 firm aircraft orders and hundreds of millions of dollars being invested into our existing fleet,' Hudson added. The low-cost unit has faced intensifying competition from Southeast Asian budget carriers, including Capital A's AirAsia and Singapore Airlines' Scoot. Qantas launched Jetstar Asia over two decades ago, in a bid to capitalize on the growing demand for low-cost air travel in the continent. Jetstar Asia is currently expected to post an underlying EBIT loss of A$35 million in the current financial year. The airline will cease operating on July 31 and will continue flights for the next seven weeks. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
