Disney said it expects to pay $8.61 billion for its stake in the popular streaming service, which offers such acclaimed fare as 'The Bear' and 'Only Murders in the Building.' But Comcast wants considerably more for its 33% stake.
The Walt Disney Co. is proceeding with its buyout of Comcast Corp.'s stake in streaming service Hulu — a major step in the Burbank entertainment giant's pivot to streaming. The move was expected. Months ago, Comcast Chief Executive Brian Roberts signaled that the Philadelphia cable giant was planning to divest its 33% interest in the service, and in September, the two companies announced they had expedited the timetable for Disney to complete the buyout.
The following month, Disney and Comcast negotiated a pact that outlined the governance of the service while it was jointly owned by the two companies and also provided a blueprint to dissolve their partnership. At the time, the two sides agreed that Hulu would be valued at no less than $27.5 billion, making Comcast's stake worth $8.6 billion. But Roberts has stressed that Hulu is a unique asset, and, in Comcast's view, is worth considerably more.
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