Disney completes acquisition of Hulu from Comcast for $9.05 billion, resolving two-year disagreement over valuation.

Disney has finalized the acquisition of Comcast’s one-third stake in Hulu, marking a significant milestone in the streaming industry. The acquisition, which culminated after a prolonged negotiation period spanning over two years, was solidified through a structured appraisal process that concluded on June 9, 2025. As per the terms of the deal, Disney will pay an additional $438.7 million to NBCUniversal, a subsidiary of Comcast, bringing the total acquisition cost to approximately $9.05 billion. The transaction is expected to be formally completed on or before July 24, 2025, as outlined in a Disney SEC filing released on Monday.

A Comcast spokesperson expressed appreciation for the partnership with Disney, highlighting Hulu’s success in generating significant revenue for Comcast. The acquisition of Comcast’s stake in Hulu underscores Disney’s strategic focus on consolidating its position in the competitive streaming market. The transaction is a culmination of a 2019 agreement between Disney and Comcast, establishing a guaranteed value of $27.5 billion for Hulu, with Comcast’s stake valued at a minimum of $9.167 billion. In December 2023, Disney made an initial payment of $8.61 billion to Comcast, representing one-third of the predetermined floor value.

However, the appraisal process faced challenges as Disney and Comcast’s independent appraisers presented divergent valuations for Hulu, necessitating arbitration to determine the final acquisition cost. Subsequently, a third appraiser was engaged to mediate the dispute, as stipulated in the 2019 agreement. The equilibrium in the final valuation, derived from the two closest appraisals, necessitated an additional payment of $438.7 million from Disney to Comcast, representing a favorable outcome for Disney amidst potentially higher cost scenarios.

With the acquisition now complete, Disney consolidates its ownership of Hulu, gaining exclusive access to the platform’s extensive library of entertainment content. Disney intends to integrate Hulu more closely with its existing streaming services, Disney+ and ESPN, to offer users a comprehensive streaming experience. The juxtaposition of Hulu with Disney’s other streaming platforms exemplifies Disney’s strategic vision to create a dynamic and diverse streaming ecosystem for consumers.

The successful acquisition of Hulu not only bolsters Disney’s streaming portfolio but also empowers the company to leverage Hulu’s vast content repository for continued growth and innovation in the streaming landscape. Analysts view the acquisition as a strategic triumph for Disney, allowing the company to navigate the burgeoning streaming market with enhanced dexterity and competitiveness. The resolution of the acquisition marks a pivotal moment for both Disney and Comcast, underscoring the complexities of valuing prominent streaming assets in a dynamic market environment characterized by changing subscriber preferences and evolving content consumption trends.

By securing full ownership of Hulu, Disney eliminates a key strategic impediment, enabling greater flexibility in content offerings and platform enhancements. The acquisition paves the way for Disney to further strengthen its foothold in the streaming industry and fortify its position as a dominant player in the evolving digital entertainment landscape. In conclusion, the acquisition of Comcast’s stake in Hulu represents a transformative development for Disney, positioning the company for sustained growth and innovation in the hyper-competitive streaming market.