Walt Disney said on Monday that it completed Hulu’s purchase, agreeing to pay NBCuniversal another $ 438.7 million for its participation in the streaming service.
The transaction gives Disney the full ownership of Hulu, paving the way for deeper integration with Disney+ and the new direct service to ESPN consumer, Walt Disney President Bob Iger said in a statement.
Comcast signed an agreement to sell its 33% stake in Hulu to Disney in 2019, after Burbank’s entertainment conglomerate acquired a majority participation in the streaming service as part of its acquisition of $ 71 billion from 21st Century Fox entertainment assets.
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The agreement established a minimum assessment of $ 27.5 billion for Hulu and defined a process to determine the fair market value, which involved a third party assessment, resulting in a final assessment.
Hulu, which features popular original titles such as “The Bear” and “Only Murders in the Building”, had 54.7 million subscribers at the end of Disney’s second trimester.
“Hulu was an excellent starting point for us on streaming, which generated nearly $ 10 billion in comcast revenues and created an important audience for first -rate NBCuniversal content,” Comcast said in a statement.
