Bob Iger and Brian Roberts Are Set to Begin Hammering Out Details for Disney to Acquire Comcast's One-Third Stake in Hulu
In early 2019, Disney (NYSE: DIS) made a deal to consolidate its control and (eventual) ownership of streaming platform Hulu. Up to that point, Hulu was owned and operated jointly by Disney, Fox, and (NASDAQ: CMCSA). Right after Disney acquired the assets from Fox (making it the majority stakeholder of Hulu) the House of Mouse inked a deal with (NASDAQ: CMCSA) to assume operational control of the streaming service.
In that 2019 deal, the two media companies also agreed to revisit the ownership issue within five years, with Disney potentially buying the remaining Hulu stake from Comcast in a deal that would value the company at a minimum of $27.5 billion, or its full market value at the time. If that valuation were to hold, Comcast's 33% portion of the company would be worth roughly $9.1 billion.
News broke Wednesday that Disney and Comcast agreed to speed up the final tallying of the deal from January 2024 to Sept. 30.
Source Fool.com
Comcast Corp. Stock
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