Walt Disney (DIS.N) on Wednesday formally began the process of buying Comcast's (CMCSA.O) one-third stake in Hulu, a deal that will give Disney full ownership of the streaming service and freedom to incorporate it into the Disney+ streaming service.
A smartphone with displayed "Disney" logo is seen on the keyboard in this illustration taken March 24, 2020. REUTERS/Dado Ruvic/File Photoone-third stake in Hulu, a deal that will give Disney full ownership of the streaming service and freedom to incorporate it into the Disney+ streaming service.
The Burbank, California-based entertainment conglomerate gained a controlling interest in Hulu as part of its $71 billion acquisition of 21st Century Fox's film and television assets. The transaction gave the studio a competitive leg up in the streaming wars. Hulu's equity fair value will be assessed as of Sept. 30, 2023, under agreed terms. If the value is determined to be greater than the guaranteed floor value, Disney will pay NBCU the difference, Disney said.
While the timing of the appraisal process is uncertain, Disney anticipates it to be completed in 2024.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Disney to buy remaining 33% stake in Comcast's Hulu stakeDisney to buy remaining 33% stake in Comcast's Hulu stake
Read more »
Disney to buy remaining stake in Hulu from Comcast's NBCUniversalDisney to buy remaining stake in Hulu from Comcast's NBCUniversal
Read more »
Disney to Pay Comcast’s NBCUniversal at Least $8.61 Billion for Its Stake in HuluComcast exercised option to sell its minority stake in streaming service; complex negotiations over Hulu’s value are under way
Read more »
Disney to Buy Remaining Stake in Hulu From ComcastDisney could pay $8.61 billion to fully own the streaming service.
Read more »
Disney to buy Comcast's stake in HuluDisney to pay $8.61 billion and possibly more, pending appraisal
Read more »