Comcast President ‘Very Happy’ With Pending $27.5 Billion Hulu Stake Sale to Disney, Open to Alternatives

Comcast Corp. president Mike Cavanagh said Comcast is open to options for Hulu, although a sale to Disney still remains viable.

Comcast President Mike Cavanagh

Comcast and Disney have a 2019 agreement in place whereby Disney would acquire the cable operator’s remaining 33% stake in Hulu for a minimum $27.5 billion acquisition price in early 2024. Disney owns majority operating control following its $71 billion acquisition of 20th Century Fox. Since that time, Comcast Corp. chairman/CEO Brian Roberts has expressed interest in buying out Disney’s majority stake, while returning Disney chief executive Bob Iger now says purchasing Comcast’s stake is not a high priority.

Speaking March 8 on the Morgan Stanley Technology, Media and Telecom Conference in San Francisco, Cavanagh reiterated that the media giant likes where it sits in the M&A discussion.

“We’re very happy if [a Disney sale is] the way it turns out; it would be great,” Cavanagh said. “But, if there’s something different that comes along, we would have to consider things. We won’t do something [different] unless it’s better in our minds.”

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