Comcast has just received a massive payment from Disney for its stake in Hulu, and it’s only the beginning of an exciting process. Company President Mike Cavanagh announced at a media conference that the anticipated $8.61 billion check arrived on Friday. Disney will acquire the remaining 33% stake in Hulu from NBC Universal, and any additional payout will depend on an ongoing evaluation process. This process has been moved up to this fall, and the Disney check was due on December 1st.
In other news, Comcast’s streaming service, Peacock, has reached 30 million paying subscribers. However, Cavanagh also mentioned that it will experience peak losses of $2.8 billion this year. Despite this, he remains optimistic about the future and praised the strong leadership, talent relationships, and partnership with creators at the film studio behind “Oppenheimer.” He believes that originality and creativity are crucial in Hollywood right now.
It’s an exciting time in the entertainment industry, and we can’t wait to see what the future holds!
