Walt Disney Co. said it will take full control of the Hulu service in a deal with Comcast Corp., as it vies for a bigger piece of the global video streaming market dominated by companies such as Netflix Inc.
The agreement, which ascribes a minimum equity value of Hulu at $27.5 billion, allows either company to trigger a sale or purchase of Comcast’s 33% stake to Disney as early as January 2024. Comcast has also agreed to fund Hulu’s recent buyout of AT&T’s 9.5% interest in the company.
