Comcast agrees to sell its stake in Hulu to Disney.
, effective immediately, the companies announced in a press release detailing new agreement Tuesday.
Comcast also has the ability to enforce an option to sell its 33 percent stake in Hulu to Disney in 2024 at a valuation of at least $27.5 billion, according to the agreement. Comcast could either sell its stake in Hulu at a valuation $27.5 billion or whatever Hulu is appraised to be worth in five years. Comcast is guaranteed at least $5.8 billion for its Hulu stake, according to the agreement.As part of the deal, Disney has agreed to pay Comcast for its Hulu content for the next five years. NBC channels will be on Hulu Live at a higher rate than previously agreed.
The paid version of NBCUniversal’s streaming service will only let users watch past seasons of TV shows on demand, the people said. The free version of the service will require users to log in through their cable and satellite TV provider, but they’ll be able to stream live TV from NBCUniversal channels and watch current-season episodes of shows, the people said. In effect, only pay TV subscribers will be able to get the fully-featured streaming service from NBCUniversal.
NBCUniversal will have the option of ending most of its content license agreements with Hulu in three years, according to the release. In one year, NBCUniversal will be able to exhibit some of its own content that is currently exclusively licensed to Hulu in exchange for a reduced license fee for Hulu, the release said.Hulu bought back a 9.5 percent stake fromin a deal that valued the company at $15 billion.
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