Disney earlier acquired NBC Universal from cable TV operator Comcast for $86.1 billion.It holds approximately 33% of Hulu, thereby further gaining control over Hulu.
Disney expects the transaction to close in fiscal 2024 and will fully own Hulu after the transaction.
Prior to this, Disney already held more than two-thirds of Hulu's shares. In a 2019 agreement, Comcast agreed to Disney acquiring the remaining shares of Hulu. With this announcement, Disney said it would further strengthen its presence in the streaming video market.
The acquisition of Hulu means Disney will have more flexibility in content development and is expected to provide advertisers with more investment opportunities.Services that combine Disney+ and Hulu content, thereby attracting more consumers to use its services.
After transferring Hulu to Disney, Comcast still owns the content services of NBCUniversal Group. It also operates Xfinity cable TV services and the National Wireless Television Network. It also holds assets such as Universal Pictures and Universal Theme Parks in California, Florida, and Osaka, Japan. In terms of streaming video services, it also owns the Peacock service launched by NBCUniversal Group.
