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The schedule that will determine the fate of Hulu’s ownership has been brought forward, comcast CEO Brian Roberts said Wednesday.
Comcast and disney Discussions are scheduled to begin on September 30, several months earlier than the original January 2024 deadline. Consultation also includes an evaluation process.
Under the original 2019 deal, Comcast could compel Disney to purchase the remaining 33% stake in January 2024 for a minimum guaranteed sum of $27.5 billion (or Disney could force Comcast to sell it). can also be requested).
“We are thrilled to be able to solve this problem,” Roberts said Wednesday. “The $27.5 billion lowest that people hyped is a hypothesis we made five years ago because Disney owns control of the company. The company is worth a lot more now than it was then. .”
Negotiations between the two companies over Hulu’s valuation have been ongoing for several years, CNBC previously reported.
Roberts and Disney CEO Bob Iger have faced questions about Hulu’s future for some time now.
Roberts said at an investor conference in May that Comcast would likely sell its 33% stake in Hulu to Disney early next year. He suggested that Hulu’s final price is likely to be higher than its original valuation.
With the deadline approaching, Comcast’s NBCUniversal did the following: It was deleted Content from Hulu, including series such as “Saturday Night Live” that aired the day after it aired on traditional TV, will be delivered to its own emerging streaming platform, Peacock.
Disney+ is Mouse House’s flagship streaming service, while Hulu is the company’s adult content platform known for series like “Only Murders in the Building.”
Iger said on CNBC earlier this year that “everything is under consideration” with Hulu, but soon changed his mind and announced that Hulu content would be added to Disney+ in May. Iger said the content crossover is part of Disney’s effort to offer a “one app experience” in the United States.
For Disney, the move to add Hulu content to Disney+ was a focus on ad-supported Disney+ options to attract more subscribers and ad revenue. Iger called it a “logical advance” for streaming options that give advertisers more opportunities.
The One App platform is expected to be rolled out by the end of this year.
Disclosure: Comcast owns CNBC’s parent company, NBCUniversal.