Disney CEO Addresses Potential Hulu Purchase From Comcast, "We've Had Conversations"
Though Disney owns the majority of Hulu, having obtained majority control after purchasing 20th Century Fox, there's a chunk of the streamer still owned by Comcast. That said, there's a contract already in place that would allow Comcast to sell its remaining share of the platform to Disney in 2024, a move that may already be set in motion. During an earnings call on Wednesday, Disney CEO Bob Iger confirmed talks between the Mouse and Comcast have taken place in regards to the ownership of the popular streaming platform.
"I've now had another three months to really study this carefully and figure out what is the best path for us to grow this business and it's clear that a combination of the content that is on Disney+ with general entertainment is a very strong combination from a subscriber perspective," Iger said during the call.
The executive then went on to reveal that with their current stake in Hulu, they're making the decision to move the platform's content to Disney+, creating a one-stop shop for all things Disney.
"Where we are headed is for one experience that would have general entertainment and Disney+ content together forever. How that ultimately unfolds is, to some extent, in the hands of Comcast and in the hands of the basically a conversation or a negotiation that we have with them," the executive continued. "I don't want to be in a way predictive in terms of when or how that ends up. I can say we've had some conversations with them already."
Even after Comcast CEO Brian Roberts said he hoped to buy Hulu from Disney last September, it looks like talks have proven successful for the latter.
"They've been cordial and they're aimed at being constructive but I can't tell you and I can't really say where they end up only to say that there seems to be real value in having general entertainment, combined with Disney+, and ultimately Hulu is that solution. That's where we're bullish," Iger concluded.
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