Disney has suffered a lot of “accusations” this year during the two major strikes in Hollywood. Well, how do they retaliate? Through “acquisition”.
Disney is set to acquire Comcast’s one-third stake in Hulu for a staggering expected price of $8.61 billion. Now you must be wondering that Hulu already comes under the Disney umbrella.
Yes, it is absolutely right but Comcast also has a significant share in Hulu that happens to be moving in Disney’s lap. One reason for this shift can be Peacock. Comcast also controls Peacock and they are naturally more interested in Peacock as they can’t be controlled by a mammoth like Disney there.
The acquisition of Comcast’s stake in Hulu is a crucial step towards realizing Disney’s ambitious streaming objectives. When Disney+ is failing to create magic like Netflix on a global scale, the company is finally getting active.
This announcement has been eagerly awaited, and it brings an end to the long-running speculation about the fate of Hulu. However, the deal is not set in stone just yet. An appraisal process is on the horizon and expected to be completed in 2024. This process will further assess the fair value of the streaming service before a final sale price is agreed upon. The journey towards full ownership of Hulu began in 2019 when Disney and Comcast entered into an agreement that valued Hulu at a minimum of $27.5 billion.
Bob Iger, Disney’s chief executive, has been vocal about his intention to acquire the remaining shares of the streaming service. Iger has hinted at the possibility of selling off its ABC division and is actively searching for a “strategic partner” for ESPN.
One key factor contributing to Hulu’s ongoing success is its original content. Hits like “The Handmaid’s Tale,” “The Bear,” and “Only Murders In The Building” have kept subscribers hooked.
Disney+ will reveal its quarterly earning report this November 8th and that is when we will finally get a report on the acquisition of the platform.