Comcast Likely to Sell Stake in Hulu to Disney

Comcast CEO Brian Roberts says it’s “more likely than not” the company will sell its stake in Hulu to The Walt Disney Company, according to Deadline.

  • Comcast currently holds a one third stake in Hulu but Roberts said in an interview that the company is likely to sell to Disney.
  • Roberts mentioned Disney CEO Bob Iger referencing a desire to acquire Comcast’s stake in the streamer during last week’s earnings call.
    • “The fact is that Bob Iger, on his earnings call last week, said that they’re now back interested in general entertainment, which is no surprise.”
  • Iger has said Disney and Comcast have had “cordial” and “constructive” conversations about Hulu in the past.
  • Roberts went on to point out the value of a service like Hulu.
    • “I think Disney recognized as anybody else would recognize that Hulu is really valuable.”
  • As for the money side of the potential sale, the contractual floor valuation is about $9 billion for Comcast’s stake, but Roberts hopes it will sell for much more.
  • Roberts referred to Comcast’s “very valuable position” in saying they’re hoping to receive what “a willing buyer in a robust auction” would pay.
  • Deadline points out that an asset like this has never been sold, with Hulu having more than 50 million domestic streaming subscribers.