Comcast and Disney have come to an agreement that gives the latter full operating control of streaming outlet Hulu, effective immediately. Disney said it has taken full operational control of the streaming service.
The company’s strategy is to make Hulu one of ‘three legs of the stool’ for its streaming activities, with the soon to launch Disney+ and ESPN+. As part of that deal, Comcast is also promising that Hulu will still get to carry NBC Universal content as well as live stream NBC Universal channels for Hulu’s live TV service until late 2024.
“Hulu represents the best of television, with its incredible array of award-winning original content, rich library of popular series and movies, and live TV offerings. We are now able to completely integrate Hulu into our direct-to-consumer business and leverage the full power of The Walt Disney Company’s brands and creative engines to make the service even more compelling and a greater value for consumers,” Disney CEO Bob Iger said in a statement.
Hulu was earlier owned evenly by Disney, Fox, and Comcast (with a 30 per cent stake each) along with a minority 10 per cent stake owned by AT&T. After the recent deal, Disney has bought Fox’s stake, AT&T jumped ship, and now Disney is poised to own the entire thing in a few years. The near future of Hulu looks secured with the deals Disney has with AT&T and Comcast.