A day after the streamer co-owned by Disney and Comcast formally went on the market, Disney said Wednesday that it plans to acquire the remaining 33% stake in Hulu for an expected price of $8.61 billion.
In a press release, Disney said the $8.61 billion represents NBCUniversal’s percentage of the $27.5 billion “guaranteed floor value” for Hulu that was established when Disney and Comcast entered in to their 2019 agreement , “minus the anticipated outstanding capital call contributions payable by NBCU to Disney.”
Disney said Hulu’s equity fair value will be assessed as of September 30, 2023, adding, “if the value is ultimately determined to be greater than the guaranteed floor value, Disney will pay NBCU its percentage of the difference between the equity fair value and the guaranteed floor value.
It’s unclear when that appraisal process is concluded, but Disney said it should be completed some time in 2024.
In September, Comcast CEO Brian Roberts, said in September that the initial minimum valuation of $27.5 billion was “just a hypothetical,” suggesting the final price tag could be much higher.
Both sides had been public about wanting to get a deal done, and the timeline had recently been accelerated.