Disney and Comcast made a deal in which the former immediately assumes full control of Hulu. Within five years Comcast will sell its stake in Hulu to Disney for at least US$5.8 billion (via Variety).
Disney + Hulu
Under the deal, NBCUniversal under Comcast will license content to Hulu through the end of 2024. As soon as next year, NBCU will be able to reduce content exclusive to Hulu. Disney chairman/CEO Bob Iger said of the deal:
We are now able to completely integrate Hulu into our direct-to-consumer business and leverage the full power of The Walt Disney Company’s brands and creative engines to make the service even more compelling and a greater value for consumers.
The deal follows news last month that AT&T sold its 9.5% stake in Hulu to Disney and NBCU for US$1.43 billion. Before that, Disney took control of 60% of Hulu after it acquired the assets of 21st Century Fox for US$71 billion.
Further Reading:
[Apple and Disney Set to Challenge Netflix in 2019]
[Netflix Swears it’s Excited About Competitors Like Apple and Disney]