In its announcement, Disney said that the acquisition of Hulu at “fair market value” would serve to “further Disney’s streaming objectives.”
Following AT&T’s sale of its own share of Hulu in 2019, Disney and Comcast were the sole owners of the streaming platform. Per the terms of the agreement, however, Comcast would be able to require Disney to buy its share of Hulu as early as January 2024. Disney also had the authority to force Comcast to sell its stake.
While the exact terms of the newly announced deal weren’t revealed, Disney reported that it plans for the acquisition to go through sometime in the 2024 calendar year.
In other entertainment news, another John Wick TV series is currently in the works.