Disney Owns Two-Thirds of the Streaming Service: BOB Iger
When it comes to the online streaming service Hulu, the Chief Executive Officer of Walt Disney Company, Bob Iger, is faced with some significant considerations.
The streaming service, which concentrates on more adult-oriented general entertainment content such as the series sci-fi thriller “Prey,” and Only Murders in the Building is owned by Disney, which has a stake in two-thirds of the business.
As early as January 2024, it is anticipated that Disney would purchase the remaining portion of it from Comcast.
Iger made these remarks about Hulu as he was speaking with David Faber of CNBC on his plans to reduce the amount of general entertainment material produced by Disney.
He stated that he was not willing to speculate as to whether or not Disney is currently interested in purchasing or selling Hulu at this time.
Iger, however, mentions that streaming is the future and that the streaming sector of the business is the primary focus of the company’s efforts.
Iger wants Disney to put more of its attention into its brands that are more appropriate for children and families, such as “Frozen” and the Marvel Cinematic Universe.
There has been some back and forth between Disney and Comcast regarding Hulu. According to a recent report, Comcast made a suggestion to purchase Disney’s 66% ownership in Hulu.
However, Comcast and Disney came to a provisional agreement about the sale of Comcast’s minority holding to Disney by the end of the year 2024.
Disney has the option of purchasing Comcast’s 33% ownership in the company as the deadline of 2024 draws near.
As per the sources, Disney promised that Hulu would be worth at least $27.5 billion after the acquisition. Comcast has moved programming like “Saturday Night Live” over to its Peacock streaming platform in preparation for Disney’s possible acquisition of a share in the company.