The Walt Disney Company has confirmed that it would by Comcast’s $8.6 billion stake in Hulu, completing its takeover of the streaming service.
In a press statement, the acquisition comes as Walt Disney seeks to boost subscriber numbers at its Disney+ streaming service.
The deal values Hulu at $27.5 billion in total, according to Disney, which said the transaction will be concluded by December 1.
Disney in August reported that Disney+ lost more than 10 million subscribers in the recently ended quarter, in large part due to the Indian market while Disney rival Netflix last month said subscriber numbers grew nearly 11 percent to 247 million in the recently ended quarter as it cracked down on password sharing and refined an ad-supported tier.
