Disney to Pay Comcast an Additional $439 Million for Hulu Stake as Streaming Saga Comes to an End
The years-long saga over the fate of Hulu is officially resolved, with Disney set to pay Comcast $439 million to finally complete the sale of its 33 percent stake in the streaming service.
Back in 2023, Disney officially agreed to pay a floor of $8.61 billion for Comcast's stake in Hulu, but the companies couldn't agree on a final valuation for the stake, leading to an extended appraisal process.
More from The Hollywood Reporter
'Call Her Daddy' Host Alex Cooper Accuses College Soccer Coach of Sexual Harassment
Las Vegas Aces vs. Golden State Valkyries Livestream: When to Watch the WNBA Game Online With Hulu + Live TV for Free
'Secret Lives of Mormon Wives' Season 2 Reunion Special to Air This Summer, Nick Viall to Host
Disney argued that the floor price would suffice as the final price, while Comcast argued that Hulu's value was higher, and that Disney should pay it an additional $5 billion.
That process is now complete as of Monday, with a final price clearly much closer to Disney's valuation than Comcast's.
While Disney was able to take operational control of Hulu as it sorted out the value of Comcast's stake, the completion of the deal will give the company more leeway to more fully integrate Hulu into its streaming offerings.
'We are pleased this is finally resolved,' Disney CEO Bob Iger said in a statement. 'We have had a productive partnership with NBCUniversal, and we wish them the best of luck. Completing the Hulu acquisition paves the way for a deeper and more seamless integration of Hulu's general entertainment content with Disney+ and, soon, with ESPN's direct-to-consumer product, providing an unrivaled value proposition for consumers.'
Disney began integrating Hulu content into Disney+ in late 2023, and expanded that initiative last year.
Disney says that the full acquisition of Hulu will be completed by July 24, 2025.
Disney acquired a controlling stake in Hulu in connection with its acquisition of 21st Century Fox, but Comcast's stake remained the big sticking point.
'Hulu was a great start for us in streaming that generated nearly $10 billion in proceeds for Comcast and created an important audience for NBCUniversal's world-class content,' a Comcast spokesperson says. 'We wish Disney well with Hulu and appreciate the cooperative way our teams managed the partnership.'
Best of The Hollywood Reporter
How the Warner Brothers Got Their Film Business Started
Meet the World Builders: Hollywood's Top Physical Production Executives of 2023
Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
23 minutes ago
‘How to Train Your Dragon' soars ahead of 'Elio,' '28 Years Later' in box office
NEW YORK -- Neither Pixar nor zombies were enough to topple 'How to Train Your Dragon" from the No. 1 slot at North American box offices over the weekend. The Universal Pictures live-action remake remained the top film, bringing in $37 million in ticket sales in its second weekend, despite the sizeable new releases of 'Elio' and '28 Years Later.', according to studio estimates Sunday. 'How To Train Your Dragon' has rapidly amassed $358.2 million worldwide. Six years after its last entry, the Dean DeBlois-directed 'How To Train Your Dragon' has proven a potent revival of the DreamWorks Animation franchise. A sequel is already in the works for the $150 million production, which remakes the 2010 animated tale about a Viking boy and his dragon. Pixar's 'Elio' had a particularly tough weekend. The Walt Disney Co. animation studio has often launched some of its biggest titles in June, including 'Cars,' 'WALL-E' and 'Toy Story 4.' But 'Elio,' a science fiction adventure about a boy who dreams of meeting aliens, notched a modest $21 million, the lowest opening ever for Pixar. 'This is a weak opening for a new Pixar movie,' said David A. Gross, who runs the movie consulting firm FranchiseRe. 'These would be solid numbers for another original animation film, but this is Pixar, and by Pixar's remarkable standard, the opening is well below average.' 'Elio,' originally set for release in early 2024, had a bumpy road to the screen. Adrian Molina — co-director of 'Coco' — was replaced mid-production by Domee Shi ('Turning Red') and Madeline Sharafian. Back at Disney's D23 conference in 2022, America Ferrera appeared to announce her role as Elio's mother, but the character doesn't even exist in the revamped film. Disney and Pixar spent at least $150 million making 'Elio,' which didn't fare any better internationally than it did in North America, bringing in just $14 million from 43 territories. Pixar stumbled coming out of the pandemic before stabilizing performance with 2023's 'Elemental' ($496.4 million worldwide) and 2024's 'Inside Out 2' ($1.7 billion), which was the company's biggest box office hit. 'Elemental' was Pixar's previously lowest earning film, launching with $29.6 million. It rallied in later weeks to collect nearly half a billion dollars at the box office. The company's first movie, 'Toy Story,' opened with $29.1 million in 1995, or $60 when adjusted for inflation. It remains to be seen whether 'Elio's' decent reviews and 'A' from CinemaScore audiences can lead it to repeat 'Elemental's' trajectory. With most schools on summer break, the competition for family audiences was stiff. Disney's own 'Lilo & Stitch,' another live-action remake, continued to pull in young moviegoers. It grossed $9.7 million in its fifth weekend, bringing its global tally to $910.3 million. . '28 Years Later' signaled the return of another, far gorier franchise. Director Danny Boyle reunited with screenwriter Alex Garland to resume their pandemic apocalypse thriller 25 years after '28 Days Later' and 18 years after its sequel, '28 Weeks Later.' The Sony Pictures release opened with $30 million. That was good enough to give Boyle, the filmmaker of 'Slumdog Millionaire' and 'Trainspotting,' the biggest opening weekend of his career. The film, which cost $60 million to make, jumps ahead nearly three decades from the outbreak of the so-called rage virus for a coming-of-age story about a 12-year-old (Alfie Williams) venturing out of his family's protected village. Aaron Taylor-Johnson, Jodie Comer and Ralph Fiennes co-star. Reviews have been good (90% fresh on Rotten Tomatoes) for '28 Years Later,' though audience reaction (a 'B' CinemaScore) is mixed. Boyle has more plans for the zombie franchise, which will next see the release of '28 Years Later: The Bone Temple' next year from director Nia DaCosta. '28 Years Later' added another $30 million in 59 overseas markets. After its strong start last weekend with $12 million, A24's 'Materialists' held well with $5.8 million in its second weekend. The romantic drama by writer-director Celine Song and starring Dakota Johnson, Pedro Pascal and Chris Evans has collected $24 million so far. Next weekend should also be a competitive one in movie theaters, with both 'F1,' from Apple and Warner Bros., and Universal's 'Megan 2.0' launching in cinemas. With final domestic figures being released Monday, this list factors in the estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Comscore: 1. 'How to Train Your Dragon,' $37 million. 2. '28 Years Later,' $30 million. 3. 'Elio,' $21 million. 4. 'Lilo & Stitch,' $9.7 million. 5. 'Mission: Impossible — The Final Reckoning,' $6.6 million. 6. 'Materialists,' $5.8 million. 7. 'Ballerina,' $4.5 million. 8. 'Karate Kid: Legends,' $2.4 million. 9. 'Final Destination: Bloodlines," $1.9 million. 10. 'Kuberaa,' $1.7 million.
San Francisco Chronicle
41 minutes ago
- San Francisco Chronicle
‘How to Train Your Dragon' tops the US box office as ‘Elio' marks a new low for Pixar
NEW YORK (AP) — Neither Pixar nor zombies were enough to topple 'How to Train Your Dragon" from the No. 1 slot at North American box offices over the weekend. The Universal Pictures live-action remake remained the top film, bringing in $37 million in ticket sales in its second weekend, despite the sizeable new releases of 'Elio' and '28 Years Later.' , according to studio estimates Sunday. 'How To Train Your Dragon' has rapidly amassed $358.2 million worldwide. Six years after its last entry, the Dean DeBlois-directed 'How To Train Your Dragon' has proven a potent revival of the DreamWorks Animation franchise. A sequel is already in the works for the $150 million production, which remakes the 2010 animated tale about a Viking boy and his dragon. Pixar's 'Elio' had a particularly tough weekend. The Walt Disney Co. animation studio has often launched some of its biggest titles in June, including 'Cars,' 'WALL-E' and 'Toy Story 4.' But 'Elio,' a science fiction adventure about a boy who dreams of meeting aliens, notched a modest $21 million, the lowest opening ever for Pixar. 'This is a weak opening for a new Pixar movie,' said David A. Gross, who runs the movie consulting firm FranchiseRe. 'These would be solid numbers for another original animation film, but this is Pixar, and by Pixar's remarkable standard, the opening is well below average.' 'Elio,' originally set for release in early 2024, had a bumpy road to the screen. Adrian Molina — co-director of 'Coco' — was replaced mid-production by Domee Shi ('Turning Red') and Madeline Sharafian. Back at Disney's D23 conference in 2022, America Ferrera appeared to announce her role as Elio's mother, but the character doesn't even exist in the revamped film. Disney and Pixar spent at least $150 million making 'Elio,' which didn't fare any better internationally than it did in North America, bringing in just $14 million from 43 territories. Pixar stumbled coming out of the pandemic before stabilizing performance with 2023's 'Elemental' ($496.4 million worldwide) and 2024's 'Inside Out 2' ($1.7 billion), which was the company's biggest box office hit. 'Elemental' was Pixar's previously lowest earning film, launching with $29.6 million. It rallied in later weeks to collect nearly half a billion dollars at the box office. The company's first movie, 'Toy Story,' opened with $29.1 million in 1995, or $60 when adjusted for inflation. It remains to be seen whether 'Elio's' decent reviews and 'A' from CinemaScore audiences can lead it to repeat 'Elemental's' trajectory. With most schools on summer break, the competition for family audiences was stiff. Disney's own 'Lilo & Stitch,' another live-action remake, continued to pull in young moviegoers. It grossed $9.7 million in its fifth weekend, bringing its global tally to $910.3 million. . '28 Years Later' signaled the return of another, far gorier franchise. Director Danny Boyle reunited with screenwriter Alex Garland to resume their pandemic apocalypse thriller 25 years after '28 Days Later' and 18 years after its sequel, '28 Weeks Later.' The Sony Pictures release opened with $30 million. That was good enough to give Boyle, the filmmaker of 'Slumdog Millionaire' and 'Trainspotting,' the biggest opening weekend of his career. The film, which cost $60 million to make, jumps ahead nearly three decades from the outbreak of the so-called rage virus for a coming-of-age story about a 12-year-old (Alfie Williams) venturing out of his family's protected village. Aaron Taylor-Johnson, Jodie Comer and Ralph Fiennes co-star. Reviews have been good (90% fresh on Rotten Tomatoes) for '28 Years Later,' though audience reaction (a 'B' CinemaScore) is mixed. Boyle has more plans for the zombie franchise, which will next see the release of '28 Years Later: The Bone Temple' next year from director Nia DaCosta. '28 Years Later' added another $30 million in 59 overseas markets. After its strong start last weekend with $12 million, A24's 'Materialists' held well with $5.8 million in its second weekend. The romantic drama by writer-director Celine Song and starring Dakota Johnson, Pedro Pascal and Chris Evans has collected $24 million so far. With final domestic figures being released Monday, this list factors in the estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Comscore: 1. 'How to Train Your Dragon,' $37 million. 2. '28 Years Later,' $30 million. 3. 'Elio,' $21 million. 4. 'Lilo & Stitch,' $9.7 million. 5. 'Mission: Impossible — The Final Reckoning,' $6.6 million. 6. 'Materialists,' $5.8 million. 7. 'Ballerina,' $4.5 million. 8. 'Karate Kid: Legends,' $2.4 million. 9. 'Final Destination: Bloodlines," $1.9 million. 10. 'Kuberaa,' $1.7 million.
Bloomberg
an hour ago
- Bloomberg
Pixar's ‘Elio' Debut Topped by Returning ‘Dragon' at Box Office
How to Train Your Dragon, a live-action remake of the 2010 animated hit, topped the box office again in its second weekend, besting new releases 28 Years Later and Elio. Dragon, from Comcast Corp. 's Universal Pictures and DreamWorks units, took in $37 million in US and Canadian theaters over the weekend, according to market researcher Comscore Inc.
