Comcast sells Hulu to Disney for at least $5.8 billion as streaming wars heat up. Deal may not close

Source: Philadelphia Inquirer

Continuing the massive restructuring of the entertainment industry, Comcast Corp. has agreed to unload its one-third stake in streaming service Hulu for a minimum of $5.8 billion and up to $9.2 billion in 2024 to the Walt Disney Co., the two companies said on Tuesday.

The complex deal ends speculation over how Comcast and Disney -- which have waged takeover battles for Fox’s Hollywood studio and European pay-TV operator Sky -- would jointly operate Hulu.

Hulu is a great prize because of the 28 million subscribers it has for its on-demand movie and television shows. The California-based service also gives viewers instant access to current shows from every major U.S. broadcast network and to libraries of hit TV series and films.

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 [Disney’s] brands and creative engines to make the service even more compelling and a greater value for consumers.”

Read more: https://www.philly.com/business/comcast/comcast-hulu-disney-philadelphia-nbcuniversal-netflix-fox-20190514.html