BURBANK, Calif. (AP) — Disney is taking full control of Hulu, extending the reach of its streaming abilities.
Disney said Tuesday that it’s taking operational control of the streaming service immediately.
NBCUniversal owns 33% of Hulu right now. According to the agreement, Disney can demand NBCUniversal sell the remaining stake to Disney for its fair market value in the future. Disney has guaranteed a sale price that represents a minimum total equity value of $27.5 billion.
Walt Disney Co. and Comcast Corp. also agreed to fund Hulu’s recent purchase of AT&T Inc.’s 9.5% interest in Hulu.