Sound + Vision. Disney has reached agreement with Comcast to take control of the Hulu streaming service that (sort of) rivals Netflix in the US. Comcast will sell its 33% stake at some point in the next five years at an independently agreed valuation. The deal allows Disney to take operational control immediately and enables Comcast to realise a growth valuation. Hulu was founded in 2006 as a joint venture between media businesses and has grown to reach a subscriber base of 28m with further growth to 40-60m subscribers expected in five years. Hulu added 3.8m subscribers in the first four months of 2019. Disney is to launch its own streaming service(s) later in the year. The Comcast stake will not fall below 21% and the deal will therefore guarantee an exit of at least $5.8bn.
Disney takes control of Hulu
