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Disney takes control of Hulu video service

Burbank - Disney takes control of the US video service Hulu, making it a stronger player in the streaming business. With immediate effect, Disney will have operational management at Hulu and will have the option of buying around a third of its stake from the Comcast Group's remaining partner NBCUniversal in a few years.

Hulu was originally launched as a community platform for the major American TV networks. With the recent takeover of the Fox television business, Disney already got a majority stake in the service - and that ultimately made a reorganization inevitable. The ownership structure had recently been further adjusted when Hulu bought back the stake in the telecom group AT&T - now only Disney and Comcast are the two shareholders. Hulu is currently only active in the USA.

Disney can buy back the Comcast stake from January 2024. For the price calculation, Disney guarantees an overall valuation of Hulu of at least 27.5 billion dollars (24.5 billion euros). Since it was also agreed that Comcast's share will not fall below 21 percent during this time, the cable company is entitled to a guaranteed $ 5.8 billion.

NBCUniversal content will initially remain with the streaming service until the end of 2024. At the same time, the company can also distribute it on its own streaming service. Disney plans to start a streaming service with exclusively available content initially in the USA in the fall. (APA, May 14, 2019)