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Comcast, Disney ‘Tens of Billions’ Apart on Hulu Valuation, Now Aiming at Early 2024 Agreement (Report)

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thewrap.com

The Wall Street Journal reported that the two media and entertainment giants want to reach a deal to resolve the ownership of Hulu, but the disagreement over how much the nation’s fifth-largest streaming service is worth is stalling progress.

Neither Disney nor Comcast responded to requests for comment.Disney owns two-thirds of Hulu, while Comcast owns one-third, acquired when it took control of one of the streamer’s founding backers, NBCUniversal, in 2011.

Two years later, Comcast bought the remaining portion of NBCU it didn’t own. Under their ownership agreement, starting next year, Comcast could force Disney to buy it out, or Disney can require Comcast to sell.Hulu considered selling itself outright 2014, The Journal noted, but ditched the idea in part because Comcast touted a plan to Disney and Fox, which owned a stake at the time, to make Hulu “the nationwide streaming video platform for the cable TV industry,” with the goal of taking market share from streaming leader Netflix.

The envisioned cable streaming plan never happened, and Disney CEO Bob Iger was “furious,” the Journal said, citing a person familiar with the situation.It’s just one of the disagreements that the two companies have had over the streamer, which now has 48 million subscribers.

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