Page 35 - Comcast Corp News Today

The Walt Disney Co. is proceeding with its buyout of Comcast Corp.’s stake in streaming service Hulu — a major step in the Burbank entertainment giant’s pivot to streaming. The move was expected. Months ago, Comcast Chief Executive Brian Roberts signaled that the Philadelphia cable giant was planning to divest

The Walt Disney Company is to acquire the 33 per cent stake in SVoD service Hulu held by Comcast Corp’s NBC Universal, following Comcast’s November 1st exer

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BURBANK, Calif. -The Walt Disney Company announced today that it will acquire the 33% stake in Hulu, LLC held by Comcast Corp.s NBC Universal , following Comcasts November 1 exercise of its right...

The Walt Disney Company has announced that it will acquire the 33% stake in the streaming service Hulu held by Comcast Corp.’s NBC Universal (NBCU), following Comcast’s November 1 exercise of its right under the put/call arrangement between the two companies. Under the terms of the put/call arrangement, by December 1 Disney expects it will…

Disney had already owned two-thirds of the streaming service. Once the deal is finalized, Disney will own the whole thing.

Stock futures are up as the Street bets the Fed is done raising rates this year.

The company expects to spend approximately $8.61 billion by December 1 for Comcast/NBCU’s 33% stake in the streamer, minus the anticipated outstanding capital call contributions payable by NBCU to Disney, with final amounts to depend on assessment of fair equity value.

The value of Hulu, which has about 50 million subscribers, is far higher than the floor price that was previously agreed to by the companies.

Disney's plan to buy the remaining stake of Hulu will give it full ownership of the platform, allowing it to merge its streaming operations on one app.