Disney acquires the remaining 33% ownership of the streaming platform Hulu.

Disney’s plan to acquire the remaining stake in Hulu, as anticipated, was announced. On Wednesday, the company confirmed its intention to purchase the remaining 33% ownership from Comcast, thereby gaining full control of the streaming service. This move will enable Disney to integrate Hulu into its Disney+ platform.

Disney has been facing stiff competition in the streaming industry, leading to a decline in profits. The cost of completing the takeover of Hulu is estimated at around $8.6 billion (£7 billion), according to Disney’s statement. Nevertheless, Disney stated that this acquisition aligns with its streaming goals, aiming to increase its subscriber base.

In the United States, Disney already offers Hulu as part of bundled packages alongside Disney+ and ESPN+. In the UK, select Hulu content is accessible through the Disney+ app, including shows like The Kardashians and The Bear.

The price tag reflects a predetermined minimum value for the streaming service, which was established when Disney acquired a majority stake in Hulu as part of its extensive deal with 21st Century Fox, led by Rupert Murdoch, in 2019.

On Wednesday, Disney expressed its hope to finalize the deal by December 1st, though discussions with Comcast, the parent company of NBC Universal, are still ongoing.