Comcast (NASDAQ:CMCSA) has moved forward the date for the sale of its stake in the Hulu streaming venture with Disney to the end of the month (September).
“As of September 30, after some short period of time, Disney can call, we can put, and I believe that’s what will end up happening,” Brian Roberts, Comcast chief executive said at a conference on Wednesday :
Disney and Comcast own Hulu 66%/33% respectively.
Previously either company could trigger a sale or purchase of Comcast's 33% stake to Disney from January at a price that values Hulu overall at a minimum of US$27.5 billion.
An appraisal process will determine Hulu’s value, said Roberts, which he believes with the benefits of churn reduction and synergies might push its value up above US$30 billion.
"The value of Hulu has increased dramatically," LightShed media analyst Rich Greenfield told Reuters.
"Hulu has far greater value than when they struck the $27 billion agreement with Disney ... Comcast wants to get maximum value out of this."
Latest numbers showed Hulu with 48.3 million subscribers, 24 million paid subscribers for Comcast's Peacock streaming service and 105.7 million global subscribers for Disney+.
Tying up Hulu's loose ends early also works for Disney, said the analyst, as it can be folded into Disney+ or sold in a package of other assets.