Comcast CEO Brian Roberts hints potential sale of Hulu stake to Disney

Comcast CEO Brian Roberts has expressed the likelihood of selling its stake in the popular OTT streaming service Hulu to Disney. As one of the major players in the streaming industry, Comcast currently holds a one-third ownership stake in Hulu.

Despite the intention to sell, Roberts emphasized the significant value Comcast sees in its position within Hulu. This suggests that the company expects a substantial sum in return for its portion of the streaming service.

Roberts made these remarks during an event organised by MoffettNathanson, highlighting Comcast's strategic considerations. The company's position remains strong due to its possession of a 'put' option, which obliges Disney, the majority owner of Hulu with a 66% stake, to acquire Comcast's minority stake.

Regarding the potential benefits for Comcast shareholders, Roberts expressed confidence in the outcome of the Hulu stake sale. He stated: "I'm highly confident that the sale of our Hulu stake will yield a higher return than our initial investment. In fact, this is contractually guaranteed."

Reports indicate that the valuation for Hulu was established at $27.5 billion (€25.3bn) in 2019 as part of an agreement between Comcast and Disney. It is expected that the final price for Comcast's one-third stake will surpass this base amount, further emphasizing the favorable position of the company in negotiations.