Current:Home > NewsDisney to acquire the remainder of Hulu from Comcast for roughly $8.6 billion-LoTradeCoin
Disney to acquire the remainder of Hulu from Comcast for roughly $8.6 billion
View Date:2024-12-23 23:56:48
Walt Disney Co. said it will acquire a 33% stake in Hulu from Comcast for approximately $8.6 billion, a deal that will give Disney undisputed control of the streaming service. Disney has actually run Hulu since 2019, when Comcast ceded its authority to Disney and effectively became a silent partner.
Disney offered no comment beyond saying the acquisition will “further Disney’s streaming objectives.”
Hulu began in 2007 and quickly evolved into as a service backed by entertainment conglomerates who hoped to stave off the internet with an online platform for their own TV shows. Disney joined in 2009, planning to offer shows from ABC, ESPN and the Disney Channel. A decade later, Disney gained majority control of the business when it acquired 21st Century Fox.
Disney has treated Hulu as one of its own services for years — for instance, when it launched its own streaming service, Disney+, in 2019 and immediately offered a streaming bundle that included Hulu, Disney+ and ESPN+.
More recently, amid increasing pressure on streaming services brought on by untrammeled expansion, low prices and widespread password sharing, Disney has promised its own crackdown on non-paying users and raised prices for ad-free versions of Disney+ and Hulu by 20% to 27%. CEO Bob Iger said in August that the increases were designed to steer consumers toward cheaper ad-supported versions of those channels, whose subscription prices did not change.
The advertising market for streaming is “picking up,” Iger said at the time, noting that it’s healthier than traditional TV ads. “We’re obviously trying with our pricing strategy to migrate more subs to the advertising supported tier.”
veryGood! (322)
Related
- 'Cowboy Carter' collaborators to be first country artists to perform at Rolling Loud
- Who are the starting quarterbacks for New England Patriots vs. Pittsburgh Steelers?
- What to know about Hanukkah and how it’s celebrated around the world
- LeBron James once again addresses gun violence while in Las Vegas for In-Season Tournament
- Man killed in Tuskegee University shooting in Alabama is identified. 16 others were hurt
- Families had long dialogue after Pittsburgh synagogue attack. Now they’ve unveiled a memorial design
- Senators probe private equity hospital deals following CBS News investigation
- South Korea Olympic committee pushes athletes to attend navy boot camp, triggering rebukes
- Wisconsin agency issues first round of permits for Enbridge Line 5 reroute around reservation
- Adele Hilariously Reveals Why She's Thriving as Classroom Mom
Ranking
- Barbora Krejcikova calls out 'unprofessional' remarks about her appearance
- Like Goldfish? How about chips? Soon you can have both with Goldfish Crisps.
- Twitch says it’s withdrawing from the South Korean market over expensive network fees
- Families had long dialogue after Pittsburgh synagogue attack. Now they’ve unveiled a memorial design
- Mississippi man charged with shooting 5 people after not being allowed into party
- 'Good enough, not perfect': How to manage the emotional labor of being 'Mama Claus'
- McDonald's plans to add about 10,000 new stores worldwide by 2027; increase use of AI
- Rights groups say Israeli strikes on journalists in Lebanon were likely deliberate
Recommendation
-
Black and Latino families displaced from Palm Springs neighborhood reach $27M tentative settlement
-
Wyoming may auction off huge piece of pristine land inside Grand Teton
-
It's one of the biggest experiments in fighting global poverty. Now the results are in
-
Gaza protests prompt California governor to hold virtual Christmas tree-lighting ceremony
-
Amazon Best Books of 2024 revealed: Top 10 span genres but all 'make you feel deeply'
-
Democratic bill with billions in aid for Ukraine and Israel fails to clear first Senate hurdle
-
A fibrous path 'twixt heart and brain may make you swoon
-
Russell Simmons speaks out on 2017 rape, assault allegations: 'The climate was different'