Comcast, Disney move up date for Hulu deal
Hulu had 48.3M subscribers at the end of the most recent quarter
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Comcast has moved up the date for the sale or purchase of its remaining stake in Hulu to Disney to Sept. 30 this year, CEO Brian Roberts said Wednesday.
The company is moving up the sale date from January 2024 to Sept. 30, Roberts said at the Goldman Sachs Communacopia + Technology Conference.
"As of September 30, after some short period of time Disney can call, we can put, and I believe that’s what will end up happening," Roberts said.
DISNEY ENCOURAGES SPECTRUM CUSTOMERS TO MOVE TO HULU + LIVE TV AMID CHARTER DISPUTE
Under a 2019 agreement that assigned a minimum equity value to Hulu of $27.5 billion, either company could initiate the sale or purchase of Comcast's 33% stake to Disney. To date, Disney owns two-thirds of Hulu, while Comcast owns the remaining shares.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CMCSA | COMCAST CORP. | 38.85 | +0.28 | +0.73% |
| DIS | THE WALT DISNEY CO. | 112.08 | -0.65 | -0.58% |
Hulu had 48.3 million subscribers at the end of the most recent quarter, compared with 24 million paid subscribers for Comcast's Peacock streaming service and 105.7 million global subscribers for Disney+.
Disney
Disney and Hulu did not respond to FOX Business' requests for comment.
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Reuters contributed to this report.