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Comcast To Divest Hulu Stake To Disney In 2024: Report

Anusuya Lahiri
·1 分鐘文章

  • Comcast Corp (NASDAQ: CMCSA) and Walt Disney Co (NYSE: DIS) shares are trading lower Tuesday after Comcast CEO Brian Roberts shared the likelihood of selling its 33% stake in Hulu to Disney at the beginning of 2024.

  • "It's more likely than not we will go through with what we've said all along," CNBC cites Roberts at the SVB MoffettNathanson investor conference.

  • Roberts also suggested the final price for Hulu will likely be higher than the $27.5 billion valuation initially set in 2019.

  • Also Read: Former Hulu Chief Joe Earley Takes Charge Of Disney's Streaming Business, A Critical Growth Pillar

  • Comcast and Disney struck a deal in 2019 that allowed Disney the option to buy out Comcast's minority stake in 2024. That deal set a floor valuation for Hulu at $27.5 billion.

  • Hulu is Disney's adult-focused streaming service, bundling with ESPN+ and Disney+ for as low as $12.99 monthly.

  • Comcast owns a minority stake in Hulu. Hulu ended Disney's fiscal second quarter with 48.2 million subscribers.

  • Comcast and Disney have discussed Hulu this year, Disney CEO Bob Iger said last week.

  • Iger last week backtracked, saying "that was a little harsh," while also acknowledging talks have occurred with Comcast.

  • Price Actions: DIS shares traded lower by 1.97% at $91.03 on the last check Tuesday. CMCSA shares traded lower by 1% at $39.80.

  • Photo via Wikimedia Commons

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This article Comcast To Divest Hulu Stake To Disney In 2024: Report originally appeared on Benzinga.com

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