Comcast (NASDAQ:CMCSA) has expedited the timeline for the sale or acquisition of its remaining stake in Hulu by Disney (NYSE:DIS), with the new date set for September 30th of this year, according to CEO Brian Roberts’ announcement on Wednesday. Roberts stated, “Starting from September 30th, Disney has the option to call, and we have the option to put, and I anticipate that this is the course of action we will pursue.”
In defiance of broader market weaknesses, Comcast’s stock saw a 1.7% increase following Roberts’ remarks, which were made during the Goldman Sachs Communacopia + Technology Conference. Disney currently holds a two-thirds stake in Hulu, while Comcast retains the remaining third. According to a 2019 agreement, either company can initiate the sale or purchase of Comcast’s 33% stake by Disney as early as January 2024.
The agreement values Hulu at a minimum equity of $27.5 billion. Roberts indicated that the valuation of Hulu would be determined through an appraisal process, and he believes this process will encompass more than just Hulu’s standalone value. In his view, the potential benefits for a buyer, such as reducing customer attrition and synergies with other services, could be valued at approximately $30 billion. As of the most recent quarter, Hulu boasted 48.3 million subscribers, while Comcast’s Peacock streaming service had 24 million paid subscribers, and Disney+ had 105.7 million global subscribers.
Featured Image: Megapixl
Author Faith Yakubu 
