As Hulu Haggle Continues, Comcast CEO Brian Roberts Takes “Great Exception” To Disney Chief Bob Chapek’s View That Streaming Valuations Have Cooled
deadline.comWith a bit more than a year left before Disney can buy out Comcast’s financial stake in Hulu, Comcast CEO Brian Roberts pushed back on Disney CEO Bob Chapek’s suggestion that Hulu’s value has declined amid public market skepticism about streaming.“I would take great exception to” that assessment (which Chapek expressed in an interview last weekend with the Financial Times), Roberts said during an appearance at the Goldman Sachs Communacopia & Tech Conference.“Hulu’s a phenomenal business,.” Roberts asserted.
A 15-year-old, fully distributed streaming service would generate a “robust auction” were Disney to decide to put it up for sale.
In that (unlikely but fascinating) scenario, he added, “Comcast would be interested, and so would a number of tech and media companies. … I don’t know that the public markets are the way to judge the value.”In 2019, as it completed the $71.3 billion acquisition of most of 21st Century Fox, Disney took operational control of Hulu as Comcast retained its financial stake.
Under an agreement between the companies, Disney has the option of buying out Comcast starting in 2024, but the price is a question.
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