Original article by Joe Flint
The Australian – Page: 21 : 16-May-19
US media group Comcast has struck a deal to sell its one-third stake in streaming video service Hulu to Walt Disney Company. The deal could allow Disney to assume full ownership of Hulu in 2024. Hulu boasted more than 25 million subscribers in 2018, compared with just six million in 2014, and Disney has forecast that Hulu’s domestic operations will become profitable in fiscal 2023 or 2024. Disney plans to launch its own streaming service, which expected to target a different audience to Hulu.
HULU LLC, WALT DISNEY COMPANY, COMCAST CORPORATION, NETFLIX INCORPORATED, 21ST CENTURY FOX INCORPORATED