Disney CEO Signals Interest In Integrating Hulu Into Disney Plus In The Future
gamerant.comThe current CEO of the Walt Disney Company, Bob Chapek, has expressed interest in integrating the popular streaming service Hulu into his company’s Disney Plus service in the near future to offer viewers a more seamless streaming experience. This interest was expressed in light of the Walt Disney Company's plans to take complete ownership of the streaming platform on or before 2024.
The Walt Disney Company currently owns a majority stake in the former rival platform after augmenting their 33% stake in the company by acquiring another third of the shares from their acquisition of the majority of the Fox Corporation's entertainment assets in 2019. At the time of this acquisition, the company reached an agreement with Comcast, the company that owned the last third of Hulu, to buy them out at a fair market price by 2024 in exchange for assuming total control of the streaming service.
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Chapek, who worked at the Walt Disney Company in various capacities for 26 years before becoming CEO of the entertainment conglomerate on the 25th of February 2020, expressed interest in merging Hulu into Disney Plus during a Goldman Sachs Communacopia & Tech Conference. He also mentioned that he would like to see the total ownership of Hulu by the Walt Disney Company before the stipulated 2024 deadline as a step forward in fast-tracking the integration to get rid of the consumer ‘friction’ caused by the need to switch between the two services. In his address, Chapek also said that he would be happy to facilitate the early move but that Comcast would need to “offer reasonable terms” for the acquisition to go through earlier than the 2024 deadline, implying that the two companies do not
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