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Posted in: TV | Tagged: comcast, disney, hulu
Hulu Deal Underway: Disney Buying Out Comcast's Stake in Streamer
Disney & Comcast are officially going through the assessment process that will result in Disney buying out Comcast's one-third stake in Hulu.
Article Summary
- Disney plans to buy out Comcast's 33% stake in Hulu, accelerating its streaming agenda.
- The valuation determined by investment banks regarding what Disney may have to pay ranges between $9B-$19B.
- Although the timings of the appraisal process are uncertain, Disney anticipates finalizing the deal during the early part of 2024.
- The Hulu ownership situation could have long-term impacts on programming including the fate of Seth MacFarlane's 'The Orville' and others
Well, that didn't take long. Yesterday, we discussed how a resolution between Disney & Comcast regarding ownership of Hulu could be a big step toward fans of Seth MacFarlane's The Orville getting an answer regarding the show's fate. Today, we learned that The Mouse has agreed to buy out Comcast's 33% ownership stake. "The acquisition of Comcast's stake in Hulu at fair market value will further Disney's streaming objectives," said Disney in a statement from earlier today. So what happens now? Each side hires an investment bank to determine the value of the streamer. If the two values are within 10% of each other, then the average of the two becomes Hulu's price tag. But if they're not, a third investment bank comes in to do its own assessment – with Hulu's final price tag being the average of the third investment bank's value and the one original value that's closest to the third bank's value. Early estimates have The Mouse paying anywhere from $9B-$19B to secure full ownership of the streamer. – though in its pre-assessment process filing on Wednesday, Disney submitted that it expects to pay $8.61B by December 1st. "While the timing of the appraisal process is uncertain, we anticipate it should be completed during the 2024 calendar year," added The Mouse with regard to the expected time frame for the transaction to be completed.
The Orville: Disney/Comcast Deal May Impact Seth MacFarlane Series
When it comes to why a series does or doesn't get picked up, the reasons can vary greatly. In the case of The Orville, the still-ongoing SAG-AFTRA strikes, MacFarlane's growing production responsibilities, and the difficulties in locking in a cast that's being eyed for other projects. But when it comes to the "bigger picture," the question marks surrounding Disney, Comcast, and Hulu could've also been a factor when it came to giving the series a green light (especially if multiple seasons are being considered). Since last year, the streaming services – and the media companies that own many of them – have faced some harsh financial realities when it came to how they have been conducting their streaming businesses. That led to programming and employment cuts across the board at companies like Disney, Warner Bros. Discovery, and others. If Disney and Comcast can bring some stability to the Hulu situation, then we're one step closer to the streaming service being focused on from a programming standpoint. And that could put us one step closer to a final answer on the fate of The Orville. Stay tuned…
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