Comcast likely to sell Hulu stake to Disney by early 2024

Comcast Corp will likely sell its 33% stake in streaming platform Hulu to Walt Disney Co (DIS.N) early next year, CNBC reported on Tuesday, citing Comcast Chief Executive Brian Roberts.

Disney said in 2019 it would take full control of Hulu in a deal with Comcast that ascribed a minimum equity value of $27.5 billion to Hulu, allowing either company to trigger a sale or purchase of the stake as early as January 2024.

According to the CNBC report, Roberts suggested the final price for Hulu will likely be higher than the valuation set in 2019.

Comcast, Disney and Hulu did not immediately respond to Reuters’ requests for comment.

Disney CEO Bob Iger said last week in an earnings call that he had “constructive” talks with Comcast about Hulu.

On the same earnings call, the media company also announced that it would launch a new app later this year for U.S. customers which will combine Disney+ and Hulu content. Reuters