Disney Takes Full Control of Hulu
Disney is taking over full operational control of Hulu.
Disney The majority owner of Hulu revealed Tuesday morning that it has entered into an agreement with Comcast that will allow it to be the controlling shareholder of the streaming service.
As part of the agreement, Comcast can require Disney to buy founding stakeholder NBC Universal’s interest in Hulu as early as January 2024.
Disney CEO Bob Iger said in a statement.
“Hulu represents the best of television with its incredible array of award-winning original content, a rich library of popular series and movies, and live TV offerings,” Disney CEO Bob Iger said in a statement. “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.”
The deal spells the finish of a long, complex corporate history for Hulu, which began in 2008 as a joint endeavor of News Corp. NBC Universal and Disney didn’t get tied up with Hulu until 2009.
With Disney’s procurement of the Fox resources not long ago, it turned into the major owner of Hulu. But since NBCU was an establishing stakeholder, it held certain command over significant choices about the basics of the business. It likewise held three board seats that will be surrendered as a component of this new deal with Disney.
Iger said on Tuesday morning that the deal would enable Disney to genuinely make Hulu the third prong in its direct-to-consumer strategy, which incorporates ESPN+ and soon-to-launch Disney+.
He additionally proposed that content not accessible on family-friendly Disney+ from Fox’s film and TV studios, FX and ABC News would be a fit for the Hulu platform.