Last month, there was some interesting news from CNBC that their parent company Comcast was looking to reach out to Disney to potentially sell their 30% minority stake in the streaming service Hulu, which Disney has a majority share. Hypothetically, the sale would give Disney complete control of a second streaming service alongside Disney+ (debuts this fall).
Here is that original report from CNBC.
Disney and Comcast are holding talks about working out a deal for Comcast’s 30% stake, according to people familiar with the matter. Comcast is now weighing the pros and cons of doing a deal now rather than later, said these people, who asked not to be named because the discussions are private. It’s still unclear if a deal will transpire.
But just as Comcast came off the sidelines, 21st Century Fox agreed to sell its 30% stake in Hulu to Disney. That deal, which closed last month, effectively silenced Comcast once again. Instead of being an equal owner with Fox and Disney, Comcast now owns a minority stake to Disney’s 60%.
Disney CEO Bob Iger has now confirmed these talks have started during a recent earnings call picked-up by TheHollywoodReporter. After Disney spending $71.3 billion on 21st Century Fox, I’m curious if they have the desire to spend another large billion dollar price tag around $4.5 billion, so soon after spending so much on Fox’s acquisition.
Disney has held talks with Comcast about buying out the telecom giant’s stake in Hulu, Bob Iger revealed on Wednesday.
The Disney CEO, speaking on the company’s first-quarter earnings call with investors, confirmed that there “has been dialogue with Comcast about them possibly divesting their stake.” It’s unclear how advanced these negotiations are or what a potential timeline would be for a Comcast sale of its Hulu stake.
Iger has stated since Disney+’s inception the aim has always been to focus on family friendly content and that Hulu would be the home for more mature projects, with the acquisition of 20th Century Fox’s film library which includes mostly hard PG-13 and R-rated films it would have made sense to place those at Hulu.
It was recently announced that Disney would be developing a string of live-action and animated shows based on Marvel Comics characters including Ghost Rider starring Gabriel Luna, Helstrom, M.O.D.O.K., Dazzler and Tigra, Hit-Monkey, Howard The Duck. There are possibilities that more Marvel shows could land at Hulu.
SOURCE: THE HOLLYWOOD REPORTER