The Walt Disney Company announced that it will acquire the remaining 33% of Comcast’s stake in the streaming platform Hulu. Disney will pay at least $8.61 billion for them to have full control over the streaming site.

The deal was triggered by Comcast’s exercise of its right in the pull/call agreement made by both parties in 2019. Through an appraisal process, Hulu’s fair value will be determined.

The news will end the long-running speculation about Hulu’s future. Disney has been vocal with its interest in Hulu, but it was only now that it has given a strong stand on the matter.

Hulu was founded in 2007 through a joint-ownership of 21st Century Fox, Comcast, and Time Warner. In the past years, these companies have created their respective streaming services outside of Hulu.

In 2020, Comcast, under NBCUniversal has launched its streaming platform, Peacock, where they already shifted their original shows from Hulu to the new platform. These include productions from Bravo and NBC shows. Despite the changes, Hulu has continued its growth with its original shows such as The Handmaid’s Tale and The Bear.

Disney’s acquisition of Hulu will help strengthen its streaming objectives.

Via: Business Insider

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