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According to CEO, Comcast Set to Sell 33% Hulu Stake to Disney in Early 2024

According to CEO Brian Roberts, Comcast plans to sell its 33% stake in Hulu to Disney in early 2024.

The 2019 deal gave Disney the option to buy Comcast’s stake with a minimum valuation of $27.5 billion. Roberts mentioned that Hulu’s final valuation might exceed this initial figure.

Hulu, targeting adults, is bundled with ESPN+ and Disney+ for as low as $12.99 per month. Although Comcast has a minority stake, it lacks operational control.

Comcast is likely to sell its 33% Hulu stake to Disney early next year, says CEO Roberts.

Hulu had 48.2 million subscribers at the end of Disney’s fiscal second quarter.

Disney CEO Bob Iger confirmed discussions about Hulu, emphasizing the benefits of combining Hulu’s general entertainment with Disney+ content. Iger noted that this strategy aids in subscriber acquisition, retention, and advertising.

Despite initial skepticism about the value of general entertainment, Iger now sees strategic advantages in merging Hulu with Disney+.

At the SVB Moffett Nathanson investor conference, Roberts indicated a high probability of Comcast proceeding with the sale. He also suggested that Hulu’s final valuation might surpass the initial $27.5 billion.

Under former Disney CEO Bob Chapek, Comcast initially expected Disney to buy out its Hulu stake. However, Iger’s return shifted Disney’s focus to cost-cutting, initially questioning the value of general entertainment.

However, Iger has reassessed, recognizing the strategic advantage of merging Disney+ with Hulu’s content.

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