Disney Is Taking Full Control of Hulu
CNN/Stylemagazine.com Newswire | 5/17/2019, 2:18 p.m.
Disney's takeover of Hulu is just about complete. Comcast on Tuesday agreed to sell its ownership stake in the streaming video service to Disney. The sale won't happen for at least another five years, but Disney will take full operational control of Hulu right now. The deal is a sign of how much streaming video has changed in the last few years. Hulu was at one time a joint venture between several media titans: Disney, 21st Century Fox, Comcast's NBCUniversal and Time Warner (now WarnerMedia). None of those companies had majority control. Now Hulu is effectively a Disney product. The company became the majority stakeholder in the streaming video service after it closed a deal for most of Fox's assets in March. Last month, WarnerMedia — now owned by AT&T — agreed to sell its 9.5% interest back to Hulu. (CNN is a division of WarnerMedia.)