The Walt Disney Company is to acquire the 33% stake in Hulu held by Comcast, completing its takeover of the streaming service.
The deal values Hulu at $27.5 billion according to Disney, which said the transaction will be concluded by December 1.
In a statement, Disney said it expects to pay Comcast’s NBCU approximately $8.61 billion for the Hulu stake.
“The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” said Disney.
The deal gives Disney full ownership of the streaming service and the ability to incorporate it into its own Disney+ platform.
Disney gained a controlling interest in Hulu as part of its $71 billion acquisition of 21st Century Fox’s film and television assets.
Disney already sells Hulu as part of bundled offerings with its Disney+ and ESPN+ platforms.
Hulu currently has about 48.3 million subscribers, in comparison with Disney’s 146.1 million globally. By comparison, Disney rival Netflix has 247 million subscribers.