NEW YORK, June 11 (Bernama-Xinhua) -- US entertainment giant Disney will pay Comcast's NBCUniversal nearly US$439 million for its stake in Hulu, taking full control of the streaming service, Disney has said in a securities filing.
"The move closes out an appraisal process that's dragged on for a few years," reported The Associated Press on Tuesday, about the move, stated Xinhua.
Disney once said in November 2023 that it was acquiring a 33 per cent stake in Hulu from Comcast for at least US$8.6 billion. That amount reflected Hulu's guaranteed floor value of US$27.5 billion, according to a regulatory filing.
Robert A. Iger, Disney's chief executive, said in a statement that full ownership of Hulu would allow for "a deeper and more seamless integration of Hulu's general entertainment content with Disney+" and for bundled sales with a new ESPN streaming service that is planned for introduction later this year.
Disney has run Hulu since 2019, when Comcast ceded its authority to Disney and became a silent partner.
Hulu began in 2007 and quickly evolved into a service backed by entertainment conglomerates, which hoped to stave off the internet with an online platform for their TV shows. Disney joined in 2009, planning to offer shows from ABC, ESPN, and the Disney Channel. A decade later, Disney gained majority control of the business when it acquired 21st Century Fox.
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