The long and winding road of Hulu, which started in the pre-smartphone era as a streaming joint venture involving NBC and Fox, has concluded with the finalizing of Disney‘s buy-out of Comcast.
Disney is paying an extra $438.7 million to Comcast’s NBCUniversal, on top of the $8.6 billion it committed in 2023 under the terms established in a put/call arrangement unveiled in 2019. That deal, which was accompanied by Disney’s $71.3 billion acquisition of most of 21st Century Fox, fueled Disney’s streaming ambitions as it prepared to launch Disney+.
While Disney gained full operational control of Hulu, the agreement preserved Comcast’s one-third financial position pending the outcome of negotiations over the final price. A $27.5 billion floor value was set, with multiple third-party appraisals then entering the discussions. Disney’s appraisal, not surprisingly, came in below the $27.5 billion level, while NBCU rendered an estimate that was “substantially” higher, Disney
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