Philadelphia-based media conglomerate Comcast is reportedly weighing the option of selling its minority stake in the online video streamer Hulu to Disney.
According to a Thursday (April 25) report by CNBC, Comcast and Disney are holding active discussions that could potentially see the Mouse House acquiring Comcast’s 30% stake in Hulu. It is believed that Comcast is mulling the potential Hulu sale as one option to paying down its debt from its September 2018 acquisition of Sky for US$40 billion.
The two companies are the last remaining owners of a company that was originally founded as a joint venture between several media giants.
Last week, on April 16, telecommunications behemoth AT&T sold TimeWarner’s (now WarnerMedia) minority 9.5% stake in Hulu back to the streaming platform for a reported US$1.43 billion. The transaction valued the streaming service at US$15 billion. AT&T said it would use the proceeds from the sale to reduce its debt.
Realscreen reached out to a spokesperson at Comcast, but they declined to comment on this report.
Comcast is looking deploy its yet-to-be-named streaming platform next year which will provide NBCUniversal pay-TV subscribers in the U.S. and internationally access to free content, supported by ad revenue.
When Disney acquired 21 Century Fox’s assets this past March for US$71 billion, the media giant was given a 60% majority stake in Hulu, with TimeWarner and Comcast remaining as minority stakeholders.
Hulu, which launched in 2008, currently has more than 25 million subscribers in the U.S.
(With files from Frederick Blichert)