Disney CEO Bob Iger Comments on the Fate of Hulu

Disney CEO Bob Iger addressed the fate of Hulu directly this week. The executive sat down with TIME to discuss a number of topics that have sprung up around his reintroduction to the company. It seems like Disney could be forced to take on the full ownership of the streaming platform. Iger was placed back at the top after the tumultuous tenure of Bob Chapek and the board's decision to replace him with his predecessor. One of the biggest tests for the CEO coming up is what to do about Hulu. Disney owns two thirds of the streamer with Comcast owning the other third. It turns out, if the rival company decides to push it onto Disney, they would have to oblige because they'd be left with no other choice.

Iger said, "We own about two thirds of Hulu, and Comcast owns the other piece, and they actually have the right to put their piece to us, in other words, force us to buy them out. If they decide to do that, then we have no choice but to buy them out."

Questions Remain About How Hulu Will Be Impacted By Downsizing

Variety obtained the memo from the last round of job cuts, and there remains speculation that Disney will have another round in the coming weeks. "The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here," Iger said. "That's part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company."

"For our employees who aren't impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward. I ask for your continued understanding and collaboration during this time," he continued."

Iger concluded, "In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world – now, and long into the future. Please know that our HR partners and leaders are committed to creating a supportive and smooth process every step of the way."

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