The Walt Disney Company is to acquire the 33% stake in Hulu held by Comcast, completing its takeover of the streaming service.
The deal values Hulu at $27.5 billion according to Disney, which said the transaction will be concluded by December 1.
In a statement, Disney said it expects to pay Comcast’s NBCU approximately $8.61 billion for the Hulu stake.
“The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” said Disney.
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The deal gives Disney full ownership of the streaming service and the ability to incorporate it into its own Disney+ platform.
Disney gained a controlling interest in Hulu as part of its $71 billion acquisition of 21st Century Fox’s film and television assets.
Disney already sells Hulu as part of bundled offerings with its Disney+ and ESPN+ platforms.
Hulu currently has about 48.3 million subscribers, in comparison with Disney’s 146.1 million globally. By comparison, Disney rival Netflix has 247 million subscribers.
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