Walt Disney Co (NYSE:DIS, ETR:WDP) has completed its acquisition of Hulu, paying Comcast Corporation (NASDAQ:CMCSA, ETR:CTP2) an additional $438.7 million to secure the remaining 33% stake in the streaming service.
The deal gives Disney 100% ownership, paving the way for deeper integration with Disney+ and ESPN’s upcoming direct-to-consumer platform, chief executive Bob Iger said.
The final payment follows a 2019 agreement under which Comcast agreed to sell its stake after Disney gained majority control through its $71 billion acquisition of 21st Century Fox’s entertainment assets.
That deal set a $27.5 billion floor valuation for Hulu, with the final figure based on an independent appraisal.
Hulu had 54.7 million subscribers at the end of Disney’s second quarter.