Walt Disney finally resolves price to be paid by Disney to NBCU to purchase NBCU's interest in Hulu
- On November 1, 2023, a subsidiary of NBC Universal provided notice to Disney of its exercise of its right under a put/call arrangement to require Disney to purchase NBCU's 33% interest in Hulu at a value based on NBCU's equity ownership percentage of the greater of Hulu's equity fair value, determined pursuant to a contractual appraisal process, or a guaranteed floor value of $27.5 bln.
- Pursuant to the contractual appraisal process that was completed on June 9, 2025, an additional $438.7 mln is payable by Disney to NBCU to purchase NBCU's interest in Hulu. This amount will be recorded in "Net income attributable to noncontrolling interests" and thus reduce "Net income attributable to Disney" in its Condensed Consolidated Statements. This amount is also expected to be excluded when Disney reports Adjusted EPS, and therefore is not expected to impact Disney's previous guidance on fiscal 2025 Adjusted EPS. The acquisition of NBCU's interest in Hulu will close on or before July 24, 2025.
- "We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck. Completing the Hulu acquisition paves the way for a deeper and more seamless integration of Hulu's general entertainment content with Disney+ and, soon, with ESPN's direct-to-consumer product, providing an unrivaled value proposition for consumers."