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Disney said Wednesday that it had agreed to buy Comcast‘s one-third stake in streaming service Hulu, a long-expected outcome.
Disney said it expects to pay Comcast’s NBCUniversal about $8.61 billion by Dec. 1, reflecting the guaranteed minimum value for the streaming services the two sides agreed upon in 2019.
Originally, Disney and Comcast had set a deadline to resolve Hulu’s ownership by January. In September, the rival media giants moved up that deadline, effectively acknowleding the outcome announced Wednesday.
Read the full release from Disney.
Disclosure: Comcast’s NBCUniversal is the parent company of CNBC.
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