Comcast sells Hulu stake to Disney — oh good, now it owns even more entertainment
Comcast Corp. has agreed to sell its 33% stake in Hulu to Disney in 5 years, making the house of mouse the streaming service’s full owner.
Per the agreement, Comcast can sell the company at a valuation of at least $27.5B. Depending on how the next 5 years goes it could be more.
Apparently 21st Century Fox wasn’t good enough
After acquiring 21st Century Fox, Disney was forced to sell the 21 regional sports networks it received to Sinclair Broadcasting.
The Justice Department made them sell the acquired RSNs in fear of the giant becoming too dominant for the little guys (too late). A week later, Disney takes full ownership of a top-tier streaming network.
Disney’s lookin’ to Netflix and kill
According to Axios, while the stake won’t officially transfer until 2024, Disney will gain full operational control of the streaming service effective immediately.
The move to own Hulu is part of Disney’s long-term play to build a streaming network to remedy Netflix’s all-out streaming platform domination… and let’s not forget that looming Disney Plus launch date.
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