Complex Hulu Deal Simplifies Things for Disney
The accord, however complicated, addresses what Disney and Comcast each would like to get out of the streaming service.
A deal furthers Disney’s streaming ambitions.
Photographer: Craig Barritt/Getty Images North AmericaThey say canceling cable is hard. But that’s nothing compared to the hoops Comcast Corp. is making Walt Disney Co. jump through for Hulu.
On Tuesday, Comcast and Disney struck a deal, sort of, regarding the future of Hulu. Disney said it has taken “full operational control” of the streaming service, and Comcast said it will ultimately sell its 33% Hulu stake to Disney — just not for a few more years. Indeed, in the most complex arrangement the companies could have possibly come up with, they’ve entered into a “put/call agreement” that won’t be exercised until at least January 2024. It stipulates that at that point, Comcast can require Disney to buy out its interest in Hulu, just as Disney can require Comcast to hand over that interest.