agreement for Hulu in 2019 with an option strike date of January 2024, after Disney’s $71 billion takeover of Fox’s assets, including its minority stake in Hulu.The deal gave Disney majority control over Hulu as it already owned a 33% stake.
Comcast retained its stake at the time, believing that its value would rise significantly by 2024.In November last year, Disney agreed to take control of Hulu and pay Comcast at least $8.6 billion for the remaining 33% stake, after Comcast triggered the deal as part of the 2019 agreement.Disney said Wednesday if the independent adviser’s valuation is equal to or below the guaranteed floor value of $27.5 billion, it would not have to pay Comcast anything more than the $8.6 billion that it paid out last year.If RBC’s appraisal is in line with Comcast’s evaluation, Disney will have to pay Comcast $5 billion more.
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