Disney Is Immediately Taking Control Of Hulu in Comcast Deal
Disney Is Immediately Taking Control Of Hulu in Comcast Deal
The Hulu 2013 Summer TCA Tour takes place at The Beverly Hilton Hotel
14 May, 2019, 19:12
Disney CEO Bob Iger said in a media call Tuesday that the deal gives the company the ability to bundle its streaming services easily, meaning consumers can buy one, two or all three of its platforms.
While Disney now has full operational control, the agreement states that Comcast's ownership in Hulu will never be less than 21 percent. In addition to the agreement, Comcast has agreed to extend their license of NBCUniversal content on Hulu and Hulu Live for their channels until late 2024.
Disney said Tuesday that it's taking operational control of the streaming service immediately.
The Mouse House continues its worldwide domination of the entertainment space with a new deal announced Tuesday.
By establishing an expiration date of five years from now, Comcast is betting the value of its stake will appreciate significantly as Disney prepares unencumbered to expand the scope and reach of Hulu in the domestic and worldwide markets to battle the likes of Netflix, Amazon.com Inc and Apple Inc. Whether Comcast funds its share of those equity capital calls or not, Disney has agreed that Comcast's ownership interest in Hulu will never be less than 21% such that Comcast is guaranteed to receive at least $5.8 billion under the put/call agreement. NBCUniversal will have the option to offer some of the shows it now licenses exclusively to Hulu in one year's time.
NBCUniversal is owned by Comcast, and now holds a 33-percent ownership interest in Hulu. Last month, Disney detailed its plans for Disney Plus, which is meant to be Disney's family-friend companion service to its offering of Hulu as the home for more adult-oriented fare. The companies said that when the sale of NBCU's stake occurs in 2024, Hulu's fair-market value will be "assessed by independent experts".
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