LOS ANGELES—The Walt Disney Co. has agreed to pay Comcast an additional $437.8 billion for Comcast’s 33% stake in Hulu, ending years of maneuvering and negotiation over who would take full control of the streaming service.
Disney had paid $8.6 billion in 2023 for the minority stake, but Comcast had asked for $5 billion more, which sent the issue to arbitration over the appraised value.
Disney has had operating control of Hulu, which was founded in 2007, since it acquired Rupert Murdoch’s 21st Century Fox.
Concluding the deal for Comcast’s stake, which is expected to close in July, will, however, give Disney more flexibility in how it packages its various streaming services, which include Hulu, Disney+ and the upcoming ESPN direct-to-consumer streaming service.
“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. “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.”
