Disney takes over Hulu streaming service

Disney Will Take Full Control of Hulu in Deal With ComcastMore

The companies said Tuesday that Comcast, which owns a third of Hulu, may sell its stake starting in 2024 for a minimum of $5.8 billion. Disney's $71.3 billion takeover of 21st Century Fox combined their stakes, and gave Disney a majority hold over Hulu.

Disney, which is due to launch its own streaming service, Disney+, in the United States in November, owns 67% of the streamer having been a founding partner in the business more than a decade ago.

Now, nothing is changing for NBCUniversal content (which is owned by Comcast) right away. In addition to the agreement, Comcast has agreed to extend their license of NBCUniversal content on Hulu and Hulu Live for their channels until late 2024.

Disney guaranteed a sale price of Hulu valued at no less than $27.5 billion.

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Trump said Monday that he expected some measure of retaliation but insisted that the U.S.is ready to withstand China's move. Makers of clothing and furniture were already shifting production to Southeast Asia due to rising Chinese wages.

Walt Disney Co. and Comcast Corp. also agreed to fund Hulu's recent purchase of AT&T Inc.'s 9.5% interest in Hulu. "Disney expects Hulu will reach 40-60 million domestic subscribers in five years, suggesting 150 million global customers, based on a 33% domestic split", Bloomberg Intelligence media analyst Geetha Ranganathan says.

With Disney now wielding full operational control over Hulu, it's unclear how the Hulu and Disney+ symbiosis will play out. And that's not to mention all the R-rated Fox films that can be put on Hulu instead of Disney+. NBCUniversal, CNBC's parent company, will be able to stream the same content on its streaming service which is expected to launch next year. Amazon's Matthew Ball notes that Comcast gets an $8 billion check out of this deal, though that's after billions lost in investment in Hulu, which lost $1.5 billion this year and reportedly won't become profitable until 2024 - that is, according to Disney.

Hulu stands to be a key driver in Disney's aggressive streaming push.

Hulu, which is known for its popular Emmy-winning "The Handmaid´s Tale" and recently announced it had 28 million viewers, will be one of three streaming options offered by Disney, which is set to launch its family-oriented Disney+ service this year and already offers sports platform ESPN+. That has given Comcast a big stake in how the streaming platform is operated, including how NBCUniversal shows like 30 Rock and Seinfeld are licensed.

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