No, they got 60% of Hulu when they bought FOX. WarnerMedia sold back their shares after the merger, giving Disney 67% and Comcast 33%.
Comcast and Disney set up a deal where either one could force a buyout of Comcast’s shares. The buyout is now happening and Disney will own 100% of Hulu.
Yes, this is the context missing from the article. There’s the requirement of one party from the 3 party joint venture (fox, comcast, disney) to buy out the other parties if one acquired a majority steak. There was also a lot of politics because Comcast and Disney both got into a bidding war with each other to acquire Fox as well as Sky. So in some sense, although Comcast lost the bid for Fox, they forced Disney to make over inflated bids for Fox and were then on the hook to buy Comcast out for all of Hulu. So there’s a lot of bad blood recently, but it it also goes back to Comcast’s attempt at a hostile takeover of Disney back in the early 2000s that is probably like HBO’s Succession type stuff.
No, they got 60% of Hulu when they bought FOX. WarnerMedia sold back their shares after the merger, giving Disney 67% and Comcast 33%.
Comcast and Disney set up a deal where either one could force a buyout of Comcast’s shares. The buyout is now happening and Disney will own 100% of Hulu.
Yes, this is the context missing from the article. There’s the requirement of one party from the 3 party joint venture (fox, comcast, disney) to buy out the other parties if one acquired a majority steak. There was also a lot of politics because Comcast and Disney both got into a bidding war with each other to acquire Fox as well as Sky. So in some sense, although Comcast lost the bid for Fox, they forced Disney to make over inflated bids for Fox and were then on the hook to buy Comcast out for all of Hulu. So there’s a lot of bad blood recently, but it it also goes back to Comcast’s attempt at a hostile takeover of Disney back in the early 2000s that is probably like HBO’s Succession type stuff.
Thanks for the information. I wasn’t aware of any of that