Comcast CEO Brian Roberts says it’s “more likely than not” the company will sell its stake in Hulu to The Walt Disney Company, according to Deadline.
- Comcast currently holds a one third stake in Hulu but Roberts said in an interview that the company is likely to sell to Disney.
- Roberts mentioned Disney CEO Bob Iger referencing a desire to acquire Comcast’s stake in the streamer during last week’s earnings call.
- “The fact is that Bob Iger, on his earnings call last week, said that they’re now back interested in general entertainment, which is no surprise.”
- Iger has said Disney and Comcast have had “cordial” and “constructive” conversations about Hulu in the past.
- Roberts went on to point out the value of a service like Hulu.
- “I think Disney recognized as anybody else would recognize that Hulu is really valuable.”
- As for the money side of the potential sale, the contractual floor valuation is about $9 billion for Comcast’s stake, but Roberts hopes it will sell for much more.
- Roberts referred to Comcast’s “very valuable position” in saying they’re hoping to receive what “a willing buyer in a robust auction” would pay.
- Deadline points out that an asset like this has never been sold, with Hulu having more than 50 million domestic streaming subscribers.