Disney CEO Bob Iger has stated that "everything is on the table" with Hulu.
The streaming service, which focuses on more adult-oriented general entertainment content such as the series "Only Murders in the Building" and the sci-fi thriller "Prey," is owned by Disney in two-thirds. Iger wants Disney to put more emphasis on family-friendly franchises like "Frozen" and the Marvel Cinematic Universe.
The rest of it is expected to be purchased by Disney from Comcast as early as January 2024.
Iger's remarks about Hulu came after he told CNBC's David Faber that he planned to reduce Disney's general entertainment content.
He refused to speculate on whether Disney is currently a buyer or seller of Hulu.
However, Iger also stated that "streaming is the future" and that the company's streaming segment is a top priority.
Hulu has been a source of contention between Disney and Comcast. Comcast proposed buying Disney's 66% stake in Hulu, but Disney rejected the idea, according to CNBC. Comcast and Disney reached a tentative agreement in May 2019 to sell Comcast's minority stake to Disney by 2024.
As the 2024 deadline approaches, Disney has the option of purchasing Comcast's 33% stake. Hulu will be valued at a minimum of $27.5 billion by Disney. Comcast has moved shows like "Saturday Night Live" to its Peacock streaming platform ahead of Disney's potential stake buyout.
On Thursday, Iger addressed Hulu after Disney announced 7,000 job cuts and a reorganization of the company into three central divisions: streaming and media operations, ESPN, and parks. It also stated that it would save $5.5 billion in costs. The reorganization is Iger's most significant move since taking over as CEO in November.
(Source:www.cnbc.com)
The streaming service, which focuses on more adult-oriented general entertainment content such as the series "Only Murders in the Building" and the sci-fi thriller "Prey," is owned by Disney in two-thirds. Iger wants Disney to put more emphasis on family-friendly franchises like "Frozen" and the Marvel Cinematic Universe.
The rest of it is expected to be purchased by Disney from Comcast as early as January 2024.
Iger's remarks about Hulu came after he told CNBC's David Faber that he planned to reduce Disney's general entertainment content.
He refused to speculate on whether Disney is currently a buyer or seller of Hulu.
However, Iger also stated that "streaming is the future" and that the company's streaming segment is a top priority.
Hulu has been a source of contention between Disney and Comcast. Comcast proposed buying Disney's 66% stake in Hulu, but Disney rejected the idea, according to CNBC. Comcast and Disney reached a tentative agreement in May 2019 to sell Comcast's minority stake to Disney by 2024.
As the 2024 deadline approaches, Disney has the option of purchasing Comcast's 33% stake. Hulu will be valued at a minimum of $27.5 billion by Disney. Comcast has moved shows like "Saturday Night Live" to its Peacock streaming platform ahead of Disney's potential stake buyout.
On Thursday, Iger addressed Hulu after Disney announced 7,000 job cuts and a reorganization of the company into three central divisions: streaming and media operations, ESPN, and parks. It also stated that it would save $5.5 billion in costs. The reorganization is Iger's most significant move since taking over as CEO in November.
(Source:www.cnbc.com)
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