CNN —Disney will acquire Comcast’s one-third stake in Hulu for an expected $8.61 billion, the company said Wednesday, in a deal that will put the streaming service entirely inside the Magic Kingdom when the transaction closes later this year.
“The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” the company said in a short statement.
Disney’s bid to acquire the remaining shares in the platform began in 2019 under an agreement between the two companies that gave Hulu a value of at least $27.5 billion.
In 2020, NBCU launched its own subscription-based streaming platform, Peacock, and Comcast began shifting programming from Hulu onto the new platform, including Bravo and NBC shows.
Disney has also bundled the Hulu service as part of its larger portfolio of streaming services, including Disney+ and ESPN+, offering it at a discounted rate as part of the larger package.
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Hulu