Disney Gains Full Control Of Hulu

Disney and Comcast announced today that Disney will assume full operational control of Hulu, effective immediately. In return, Disney and Comcast entered into a “put/call” agree regarding NBCUniversal’s 33% ownership interest in Hulu. The deal puts a minimum future valuation on Hulu of $27.5 billion.

QUARTERLY REPORT

Disney Earnings Surpass Wall Street Expectations

The Walt Disney Co. reported financial results on Wednesday for the company’s last quarter as a singular studio entity. The second-quarter earnings report, which comes on the heels of Disney’s acquisition of Fox’s film and TV entertainment assets, was above Wall Street expectations.

Sinclair Wins Disney RSNs In $10.6B Deal

Byron Allen becomes an equity and content partner in the new RSN holding company, Diamond Sports Group. The RSNs includes exclusive local rights to 42 professional teams consisting of 14 Major League Baseball teams, 16 National Basketball Association teams, and 12 National Hockey League  teams.

Liz Meriwether Inks New Overall Deal With Disney’s 20th TV

Comcast In Talks To Sell Its 30% Of Hulu To Disney

Disney and Comcast are holding talks about working out a deal for Comcast’s 30% stake, according to people familiar with the matter. Comcast is now weighing the pros and cons of doing a deal now rather than later, said these people, who asked not to be named because the discussions are private. It’s still unclear if a deal will transpire.

COMMENTARY

Heiress Blasts Disney Over Pay Disparity

Abigail Disney: “In 2018, Disney gave more than 125,000 employees a $1,000 bonus. But that $125 million or so was dwarfed by the $3.6 billion it spent to buy shares back to drive up its stock price and thus enrich its shareholders. Given that about 85% of stocks are held by the richest people in the country, this was a significant new investment in wealth inequality.”

MLB Ends Bid To Buy Disney’s RSNs

Major League Baseball won’t get a shot at controlling the nation’s regional sports TV networks, after all. MLB has resigned itself to becoming a minority investor — as Disney wraps up its auction of the 21 RSNs — giving up on a dream to become the operator of a nationwide chain of sports-focused TV channels.

Disney Will Proceed With RSN Bids

Disney is still considering spinning out its RSNs to shareholders as it prepares to move forward and take final bids for the 21 sports networks on Monday.

Disney’s New Blockbuster: Its Share Price

Shares in The Walt Disney Co. hit $129.85 at the opening bell Friday, up 13%, following Thursday’s news of details on its new streaming service Disney Plus.

3 Big Questions Disney’s Streamer Will Address

Among them: How it will fit in the larger Disney digital offerings, and how much it will be able to disrupt the streaming business generally.