Disney will pay nearly $439 million to Comcast’s NBCUniversal to acquire its remaining stake in Hulu, gaining full ownership of the streaming service. This payment concludes a lengthy appraisal process that began after Disney announced in November 2023 it was buying a 33% stake in Hulu from Comcast for at least $8.6 billion. That figure was based on Hulu’s guaranteed minimum valuation of $27.5 billion.
Since 2019, Disney has managed Hulu after Comcast stepped back and became a silent partner. Hulu launched in 2007 as a platform backed by major entertainment companies aiming to offer their TV shows online. Disney joined in 2009, bringing content from ABC, ESPN, and the Disney Channel. Disney gained majority control of Hulu following its acquisition of 21st Century Fox in 2019.
In the recent appraisal process, Disney’s appraiser valued Hulu below the guaranteed minimum, while NBCUniversal’s appraiser valued it well above that floor. A third appraiser was then brought in and determined that Disney will pay $438.7 million for the remaining stake.
Disney CEO Bob Iger expressed satisfaction with resolving the matter, highlighting a productive partnership with NBCUniversal. He said the acquisition will allow for deeper integration of Hulu’s content with Disney+ and ESPN’s streaming service, enhancing the overall value for consumers.
The deal is expected to close by July 24 and is not anticipated to affect Disney’s fiscal 2025 earnings forecast. Disney’s shares saw a slight increase in morning trading on Tuesday.
