Disney Finally Settles With Comcast On Final Hulu Price
Disney has officially agreed to pay Comcast $438.7 million to purchase its remaining stake in the streaming service Hulu, bringing a lengthy appraisal process to a close.
Disney can finish the purchase of Hulu.
In 2023, Disney initially announced plans to acquire Comcast’s 33% share in Hulu, making an upfront payment of $8.6 billion. This amount was based on a previously agreed-upon guaranteed minimum valuation of Hulu at $27.5 billion, set by the two companies back in 2019. Disney had initially gained two-thirds control of Hulu through its acquisition of Fox Corp.’s entertainment assets.
After this initial purchase, both Disney and Comcast engaged independent appraisers to determine Hulu’s exact valuation. Disney’s appraiser assessed Hulu’s worth below the original agreed-upon valuation, while Comcast’s NBCUniversal appraiser estimated a significantly higher value. A third independent appraiser finalized the valuation on Monday, according to recent SEC filings.
The finalized transaction is anticipated to close by July 24. Financially, Disney will account for this payment under “net income attributable to noncontrolling interests,” reducing its own net income reported in its upcoming fiscal third-quarter financial statements. The company confirmed this would not alter previously provided financial guidance for adjusted earnings in fiscal 2025.
Disney CEO Bob Iger expressed satisfaction over the completed agreement, remarking,
“We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck.”
Iger further emphasized that this acquisition enables a deeper integration between Hulu, Disney+, and the new ESPN direct-to-consumer streaming service, set to launch soon.
Hulu currently has more than 50 million subscribers, contributing significantly to Disney’s total of 180.7 million global streaming subscribers. Comcast’s NBCUniversal, meanwhile, has focused on building its own streaming platform, Peacock, which recently reported reaching 41 million subscribers.
In a statement, a Comcast spokesperson reflected positively on their Hulu partnership:
“Hulu was a great start for us in streaming that generated nearly $10 billion in proceeds for Comcast and created an important audience for NBCUniversal’s world-class content. We wish Disney well with Hulu and appreciate the cooperative way our teams managed the partnership.”
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