Current:Home > NewsDisney reaches $8.6 billion deal with Comcast to fully acquire Hulu -Bright Future Finance
Disney reaches $8.6 billion deal with Comcast to fully acquire Hulu
View
Date:2025-04-27 22:59:05
The Walt Disney Company on Wednesday announced it will buy Comcast's $8.6 billion stake in Hulu, completing its takeover of the streaming service.
The acquisition will "further Disney's streaming objectives," the company said in a press release, and comes as it strives to boost subscriber numbers at its Disney+ streaming service.
The deal values Hulu at $27.5 billion in total, according to Disney, which said the transaction will be concluded by Dec. 1.
In 2019, Disney reached a deal with Comcast to acquire a majority stake in Hulu, leaving Comcast with a 33% stake in Hulu. The deal required Disney to buy the stake as early as Jan. 2024 or sell its stake for fair market value at that time.
The California-based entertainment giant already sells Hulu as part of bundled offerings with its Disney+ and ESPN+ platforms.
The company will release its latest quarterly earnings next week, providing a look at how its cable and streaming television services are doing in the fiercely competitive market.
Disney in August reported that Disney+ lost more than 10 million subscribers in the recently ended quarter, in large part due to the Indian market.
Disney+ finished the second three months of this year with 146.1 million subscribers, compared with just shy of 158 million in the prior quarter, the group said.
Disney rival Netflix last month said subscriber numbers grew nearly 11 percent to 247 million in the recently ended quarter as it cracked down on password sharing and refined an ad-supported tier.
The leading streaming service increased prices on some of its plans, perhaps creating an opportunity for competitors such as Disney.
Netflix said in an earnings report that its nascent ad-supported offering was gaining traction, and the coming Disney earnings should provide insight into whether the same is true for its ad-supported tier.
Meanwhile, film and television makers see productions halted by the Screen Actors Guild strike, meaning a potential lack of fresh content needed to attract and keep streaming service subscribers.
- In:
- Hulu
- Disney
- Disney+
veryGood! (9)
Related
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- The Indicators of this year and next
- Are They on Top? Checking In With the Winners of America's Next Top Model Now
- Biden Administration Takes Historic Step to Protect Old-Growth Forest
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Kamar de los Reyes, One Life to Live actor, dies at 56
- Russian presidential hopeful loses appeal against authorities’ refusal to register her for the race
- Want to run faster? It comes down to technique, strength and practice.
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- Amy Robach and T.J. Holmes Detail Fight That Made Them Seek Relationship Counseling
Ranking
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- Health workers struggle to prevent an infectious disease 'disaster in waiting' in Gaza
- American scientists explore Antarctica for oldest-ever ice to help understand climate change
- Their lives were torn apart by war in Africa. A family hopes a new US program will help them reunite
- Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
- 'I just wasn't ready to let her go': Michigan woman graduates carrying 10-day-old baby
- Americans sour on the primary election process and major political parties, an AP-NORC poll says
- Here’s what to know about Turkey’s decision to move forward with Sweden’s bid to join NATO
Recommendation
Travis Hunter, the 2
Authorities identify remains found by hikers 47 years ago near the Arizona-Nevada border
Argentina’s new president lays off 5,000 government employees hired in 2023, before he took office
Almcoin Trading Center: The Difference Between Proof of Work and Proof of Stake
Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
California Pizza Huts lay off all delivery drivers ahead of minimum wage increase
Biden Administration Takes Historic Step to Protect Old-Growth Forest
The Baltimore Ravens thrive on disrespect. It's their rocket fuel. This is why it works.