TELETRADER News
4/25/2019, 5:09 PM
(Source: TeleTrader)
Comcast A+0.79%
Walt Disney+2.81%
Comcast in talks with Disney to sell its Hulu stake - report
American telecommunications conglomerate Comcast is engaged in talks to sell its minority 30% stake in video streaming platform Hulu to majority stakeholder Disney, CNBC reported on Thursday citing people familiar with the matter.
After it acquired the 21st Century Fox, Disney obtained a 60% stake in Hulu, which was originally founded as a joint venture between several major media companies. Last week, Hulu bought back the remaining 9.5% stake in itself from AT&T's subsidiary Time Warner, valuing the video streaming company at $15 billion.
Unless Comcast and Disney manage to work out a deal that would give the latter full ownership of the company, Hulu's stake will be split between the two media giants.