Disney likely to buy large stake in Hulu from Comcast

Yahoo Finance Live's Rachelle Akuffo breaks down the news of Comcast selling its 33% stake in Hulu to Disney and the companies' partnership to merge into a new app by Year's end.

Video transcript

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RACHELLE AKUFFO: Comcast will likely sell its remaining 33% stake in Hulu to Disney at the beginning of 2024. Comcast CEO Brian Roberts saying at the SVB MoffettNathanson Investor Conference today that it's more likely than not Comcast will see the full control of Hulu to Disney. The question now is what price Comcast will ask for. The 2019 deal the stream is made would allow Disney to buy out Comcast minority stake in 2024.

And at the time, the value of Hulu was $27.5 billion. Cut that into thirds, Comcast was holding on to $9.2 billion chunk of Hulu. Well, now Roberts is suggesting the final price could be higher than that. Disney announcing days ago in its Q2 earnings it would combine Hulu and Disney Plus into one app. Taking a look at shares of Comcast how they're trading right now to the downside. Comcast down about 1%, Disney down 1.8%