Comcast and Disney previously made a deal in 2019, and the latter acquired two-thirds ownership of the streaming service. Now, as of Wednesday, Disney has started the process to acquire the entirety of it.
This will help them incorporate the services of Hulu into Disney’s streaming.
Now, this won’t just be a good deal for Comcast as Disney is offering a fair market value; it will also help Disney extend their streaming empire even more.
The tug of war regarding the fate of Hulu is over, as Disney will be taking over the services with a hefty price tag of $8.61 billion, paying for the remaining one-third of the stakes.
This will also mark the end of Comcast’s recent ignorance towards Hulu, as the mother company shifted some successful shows like SNL and The Voice to its other streaming platform, Peacock. Their launching of Peacock in 2020 signaled the beginning of the end for Hulu, as they started to shift hit shows to that platform.
Now, Disney+ was already streaming some major shows, including some Hulu originals like “Only Murders In The Building”. This was mainly done for two major reasons: firstly, Disney wanted to make their streaming service profitable, and secondly, Hulu didn’t operate overseas, unlike Disney.
As Disney is now wanting to be more than just ‘your childhood nostalgia’ and the ‘House of the MCU’, its recent acquisition of ESPN and now Hulu will help them take a big step forward.
Disney, in their journey to be more, is also trying to sell some of their endeavours, such as a part of ESPN, for the sake of a better direction, and also trying to divest the service in India, which was once their biggest bragging rights, ‘Hotstar’.
Disney will also be publishing their quarterly earning on November 8th.
