Chief Executive Officer of Walt Disney Co (NYSE:DIS), Co. Bob Chapek is intending merging the Hulu streaming service with Disney+, offering a single online option for watching the company’s movies and TV series in the United States. Walt Disney Co (DIS) listed in gainers’ list in latest trading session, shares slightly up by 0.66% or $0.74 change in price at $112.50.
The executive, speaking at Goldman Sachs Group Inc.’s telecom and media conference on Wednesday, said Disney+ currently delivers shows for adult audiences outside of the US through its Star brand, and the business is introducing more broad entertainment to the Disney+ service domestically.
The executive, speaking at Goldman Sachs Group Inc.’s telecom and media conference on Wednesday, said Disney+ currently delivers shows for adult audiences outside of the US through its Star brand, and the business is introducing more broad entertainment to the Disney+ service domestically.
Any merger of Hulu and Disney+ would necessitate the corporation purchasing Comcast Corp.’s one-third stake in Hulu. The two businesses have an agreement in place for Disney to purchase Comcast’s interest in 2024, with parameters that value the entire company at a minimum of $27.5 billion. Chapek stated that he would like to buy that interest as quickly as possible.
According to Chapek, Disney aims to combine data from both TV consumption and theme park visits to build a more comprehensive connection with customers. In the United States, the firm also provides the ESPN+ streaming service for sports lovers.
Later at the same conference, Comcast CEO Brian Roberts stated that if Hulu was for sale, he would be interested in purchasing it. He also stated that if Hulu was auctioned off, Comcast may earn a better price for its stake. According to their agreement, the worth of Hulu will be determined by impartial specialists.
