Disney and Comcast have agreed to give Disney full control of Hulu as it buys out Comcast’s stake in the streaming platform.

Thanks to The Hollywood Reporter, we know that the deal was made alongside Comcast, which owned 33 percent of the streaming service since Disney purchased Fox in 2019. According to Disney CEO Bob Iger, “The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives.”

Disney boss Bob Iger has been noncommittal on his company’s plans regarding its Hulu investment, with some on Wall Street suggesting Disney may buy out Comcast’s stake or sell its own stake in the Netflix rival. Now, however, Disney is moving to take over the brand entirely.

An appraisal of the streaming platform’s valuation is expected to conclude sometime in 2024, which will then inform Disney of how much it will cost to fully acquire Hulu, though a guaranteed minimum valuation means it will cost at least $9 billion.

Among hundreds of other offerings, Hulu notably hosts the FX streaming library, produces originals like The Handmaid’s Tale, and recently shared the debut of the Goosebumps reboot, which also arrived on Disney+.

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