The deal removes an obstacle in Disney’s quest to take on rivals including Netflix in the global streaming content war
Walt Disney has said it will take full control of the Hulu service in a deal with Comcast that removes an obstacle in the “Mouse House’s” quest to take on rivals including Netflix in the global streaming content war.
By establishing an expiration date of five years from now, Comcast is betting the value of its stake will appreciate significantly as Disney prepares unencumbered to expand the scope and reach of Hulu in the domestic and international markets to battle the likes of Netflix, Amazon and Apple. Disney is preparing to launch its own streaming service called Disney+ on November 12. At a Tuesday morning investor conference, Disney CEO Bob Iger said the service will launch in India.
Shares of Disney were up 1.5% at $133.19 in late morning trading on the New York Stock Exchange. Comcast shares were up 1.8% at $43.05 on the Nasdaq.
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