Disney Completes Hulu Acquisition from Comcast

The Walt Disney Company has completed its acquisition of The Walt Disney Company — Hulu, agreeing to pay Comcast's Comcast — NBCUniversal an additional $438.7 million for its remaining 33% stake. This transaction concludes a years-long appraisal process that began after The Walt Disney Company initially agreed to pay at least $8.6 billion for the stake in November 2023, based on The Walt Disney Company — Hulu's guaranteed floor value of $27.5 billion. The final valuation, determined by a third appraiser, was closer to The Walt Disney Company's initial assessment. The Walt Disney Company has been operating The Walt Disney Company — Hulu since 2019 and gained majority control through its acquisition of 21st Century Fox. The full ownership of The Walt Disney Company — Hulu will enable The Walt Disney Company to more seamlessly integrate The Walt Disney Company — Hulu's general entertainment content with The Walt Disney Company — Disney+ and the upcoming The Walt Disney Company — ESPN direct-to-consumer product, enhancing its overall streaming offerings. Comcast, which has been focusing on its own streaming service Peacock, has generated nearly $10 billion in proceeds from its involvement with The Walt Disney Company — Hulu. The transaction is expected to close by July 24, 2025, and is not anticipated to impact The Walt Disney Company's fiscal 2025 adjusted earnings forecast.