Disney Makes First Payment For Comcast’s Stake in Hulu
Disney and Comcast are one step closer to closing the deal for Comcast’s stake in Hulu.
At a press conference on Monday, Comcast president Mike Cavanagh revealed that his company had received the first payment from Disney for its share of the streaming platform.
![streaming](https://mickeyblog.com/wp-content/uploads/2021/11/2021-11-19-12_27_06-Hulu-to-Raise-Price-of-Live-TV-Subscription-Add-Disney-and-ESPN-–-The-Hollywo-1024x572.png)
![streaming](https://mickeyblog.com/wp-content/uploads/2021/11/2021-11-19-12_27_06-Hulu-to-Raise-Price-of-Live-TV-Subscription-Add-Disney-and-ESPN-–-The-Hollywo-1024x572.png)
Photo: Hulu
The Sale Process Has Begun
According to Cavanagh, this marks “the beginning of a process” to value the streamer, which both sides hope to complete quickly.
While Disney’s intention to purchase the remaining stake in Hulu is well known, the final price for the streaming service is still to be determined. Under a pre-existing deal between Comcast and Disney, there is an established floor for how much the streaming service is worth.
![Mike Cavanagh](https://mickeyblog.com/wp-content/uploads/2023/07/Screenshot-2023-07-27-at-09-22-56-Comcast-President-Mike-Cavanagh-Speaks-Out-On-Jeff-Shell-Shocker-For-First-Time-Says-Hell-Be-Overseeing-NBCUniversal-For-A-While.png)
![Mike Cavanagh](https://mickeyblog.com/wp-content/uploads/2023/07/Screenshot-2023-07-27-at-09-22-56-Comcast-President-Mike-Cavanagh-Speaks-Out-On-Jeff-Shell-Shocker-For-First-Time-Says-Hell-Be-Overseeing-NBCUniversal-For-A-While.png)
Photo: Deadline
Under the 2019 agreement, Disney had the ability to “call” Comcast’s stake in Hulu, forcing the company to sell. Alternatively, Comcast could “put” its stake on Disney, forcing the Mouse House to buy.
After initially wavering on what Disney would do, Bob Iger made the decision that they would buy out Comcast’s stake in the streaming service and combine the libraries of Hulu and Disney+ in a “one app” experience.
The Evaluation Process Is Underway
The two companies agreed to move up the evaluation process from January 2024 to this fall. As part of the amended agreement, DIsney’s first check was due December 1.
![Hulu](https://mickeyblog.com/wp-content/uploads/2022/03/Hulu-tv.jpg)
![Hulu](https://mickeyblog.com/wp-content/uploads/2022/03/Hulu-tv.jpg)
Photo: THIERRY CHESNOT/GETTY IMAGES
The “check cleared, it’s in the account,” Cavanagh said. “We expect, and certainly hope to get more than that once the process ends. But it’s really just the beginning.”
Before a deal is completed, Hulu will have to be appropriately valued. Once that is done, the two sides can finish the deal, and Disney will become the sole owner of the streaming service.
![Verizon Disney+ Hulu bundle](https://mickeyblog.com/wp-content/uploads/2018/08/Hulu.png)
![Verizon Disney+ Hulu bundle](https://mickeyblog.com/wp-content/uploads/2018/08/Hulu.png)
Image Credit: Disney
As always, continue to check back with MickeyBlog. We will update you on any news surrounding Hulu.