Disney Will Own Two Streaming Platforms
Disney just completed a deal with Comcast and Disney will assume full operational control of Hulu immediately. Comcast agreed to sell its Hulu stake to Disney for $5.8 billion over the next five years.
Comcast’s NBCUniversal will continue to license content to Hulu through late 2024. But as of next year, NBCU will have the right to pull back programming previously licensed exclusively to Hulu.
NBCUniversal will have the right to cancel a majority of content-licensing agreements with Hulu by 2022. On the other hand, NBCU is planning to launch its own free, ad-supported streaming service next year.
Disney CEO Bob Iger said in a statement, “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.”
Comcast/NBCU will retain its 33 percent ownership interest in Hulu, but as early as January 2024, Comcast can require Disney to buy NBCU’s interest in Hulu. Disney can also require NBCU to sell its interest to Disney.
NBCU CEO Steve Burke called the Hulu deal with Disney “a perfect outcome for us.”
By: Maytinee Kramer
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