Would give Disney complete ownership of streaming service
Comcast is in talks with Disney to sell its 30% stake in Hulu, according to CNBC.
CNBC, citing people familiar with the matter, said the deal isn’t a sure thing. CNBC is owned by Comcast. Reps for Comcast, Disney and Hulu did not immediately respond to TheWrap’s request for comment.
During Comcast’s earning’s call this morning, CEO Brian Roberts called Hulu “really valuable” and added that “we’re really glad we own a large piece of it.” Comcast is planning to launch its own streaming service under the NBCUniversal brand next year.
NBCUniversal’s entrance could become a potential headache for Netflix, the dominant streaming service today. As The Wall Street Journal pointed out earlier this week, NBCUniversal could decide to pull Netflix’s top show, “The Office,” for its own service once its licensing agreement expires in 2021.
The report comes a week after AT&T sold its 10% minority stake in Hulu back to Hulu. The transaction valued Hulu at $15 billion, with AT&T’s interest worth $1.43 billion. The transaction did not require any governmental or other third-party approvals and was simultaneously signed and closed.
Hulu is the entity purchasing AT&T’s shares, and Hulu’s owners — Disney and Comcast — will have an undisclosed window of time to allocate the shares. Last month, Disney closed its deal to buy 21st Century Fox Film’s film and TV assets, which gave the company a 60% majority stake in Hulu.