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Comcast's NBCUniversal remains committed to the streaming service but may force Disney to buy back its stake in 2024.
Disney takes full control of Hulu.
The majority owner of Hulu said Tuesday morning that it has signed an agreement with Comcast that will allow it to become the majority shareholder of the streaming service. As part of this deal, Comcast may require Disney to buy NBCUniversal's stake in Hulu as early as January 2024. Disney has guaranteed a sale price of not less than $ 27.5 billion.
This agreement marks the end of a long complex business history for Hulu, launched in 2008 as a joint venture between News Corp. and NBC Universal. Disney only bought in Hulu in 2009. With the acquisition of Disney's assets by Disney earlier this year, he became the main owner of Hulu. But since NBCU was a founding actor, it retained some control over major Hulu fundamentals decisions.
Now, Disney and Comcast have charted a course for the future of their property in Hulu. As a result of this agreement, Comcast can continue to own for another five years, during which time it is planned to launch an independent, advertising-funded streaming service. Meanwhile, Disney can now invest in Hulu's future unencumbered, possibly combining the service with its other direct sales offers to consumers and organizing an international expansion.
Hulu, which relies heavily on next-day programming and multi-network libraries, has signed a new license agreement for NBCU's live and on-demand broadcasts. At the end of 2024. NBCU can however terminate most of its content license agreements with Hulu in three years. And after launching its own streaming service, NBCU has the right to stream the programs it currently licenses to Hulu in exchange for the reduction in license fees paid to Hulu.
Hulu has changed owners a lot in the last few months. Following Disney's acquisition of Disney, AT & T announced the sale of its nearly 10% stake in Hulu. Disney and Comcast have agreed to fund the buyback in proportion to their current holdings, which means Disney now owns 67% of Hulu and Comcast owns 33%. In the future, Comcast will have the option, but will not be obliged, to finance its share of future investments in Hulu. If this is not the case, its share will be diluted.
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