Disney said Wednesday that it had agreed to buy Comcast 's one-third stake in streaming service Hulu, a long-expected outcome.
Disney said it expects to pay Comcast's NBCUniversal about $8.61 billion by Dec. 1, reflecting the guaranteed minimum value of $27.5 billion for the streaming service the two sides agreed upon in 2019.
Disney could pay more based on Hulu's equity value as of Sept. 30.
Originally, Disney and Comcast had set a deadline to resolve Hulu's ownership by January.
Disney already sells Hulu as part of a streaming bundle with its Disney+ and ESPN+ products.
Persons:
Disney
Organizations:
Comcast, Hulu, Disney, ESPN, CNBC
Locations:
Hulu