The Walt Disney Company and Comcast Announce Agreement on Hulu’s Future Governance and Ownership
This year’s Disney experience was certainly different than those of previous years, with posters of the cast of FX’s “It’s Always Sunny in Philadelphia” donning a Disney logo and National Geographic showcasing series like “Genius: Aretha Franklin” alongside ABC fare like “Modern Family.” (Ad Age) The Walt Disney Company and Comcast Corporation announced on Tuesday that Disney will assume full operational control of Hulu, effective immediately, in return for Disney and Comcast entering into a “put/call” agreement regarding NBCUniversal’s 33% ownership interest in Hulu. Under the put/call agreement, as early as January 2024, Comcast can require Disney to buy NBCUniversal’s interest in Hulu and Disney can require NBCUniversal to sell that interest to Disney for its fair market value at that future time. Hulu’s fair market value will be assessed by independent experts but Disney has guaranteed a sale price for Comcast that represents a minimum total equity value of Hulu at that...