By Farrah Khan
Disney now has full control over Hulu and its operations. Comcast and Disney have come to an agreement that Disney will assume full control over Hulu’s operations effective immediately. The deal includes Comcast selling their Hulu stakes within a 5-year period which would be equivalent to about $5.8 billion.
Included in this deal, Comcast NBCUniversal will continue to license content to the Hulu streaming service till 2024. However, all the previously licensed content exclusively to Hulu will need to be pulled back and will work on getting their own streaming service for pay-tv subscribers.
Even though Disney will initially be taking a loss on the investment; the company has big plans for Hulu including launching it internationally. This new deal between Comcast and Disney will push Disney’s goals to streamline their content on their new streaming service.
As Bob Iger mentioned to Variety, “we are now able to completely integrate Hulu into our direct-to-consumer business and leverage the full power of The Walt Disney Company’s brands and creative engines to make the service even more compelling and a greater value for consumers.” This will only help consumers with streaming their various Disney and Hulu content in one place.
Read the full article from Variety here.