According to Comcast CEO Brian Roberts, the Santa Monica, California-based Hulu is worth $30 billion, thus valuing Comcast’s one-third stake at $10 billion.
When Disney became Hulu’s majority owner in 2019 with the acquisition of 21st Century Fox (which owned one-third), it reached an agreement with Comcast to fully acquire Hulu and to value it at $27.5 billion at minimum. Comcast’s share would then have been worth $9.12 billion.
Hulu has 48.3 million subscribers and values each between $570 to $620 (if the cable TV business metric is used to measure). In 2022, Hulu’s revenues were $10.7 billion and expenditures were estimated at $3 billion. Therefore, its value could vary from 2.5 times to 2.8 times its annual sales (if revenue prospects are to be applied, that is).
The streamer was started in 2008 with a $100 million investment. Disney’s acquisition investment in Hulu is valued at $10.5 billion, consisting of $1.4 billion paid for Warner Media’s 9.5 percent ownership, and $9.1 billion out of the $71.3 billion purchase of 21st Century Fox. In 2009, Disney’s ABC had acquired 28 percent of Hulu with $25 million in marketing credits (on-air advertising and promotion) from the founding partners that included NBC. By 2019, Disney’s stake in Hulu reached 67 percent, with Comcast owning the remaining 33 percent.
In early September 2023, Disney and Comcast decided to move up the date on which either company can force the sale of the Comcast stake in Hulu from January 2024 to September 30, 2023.
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