Comcast execs are pushing back on a report that the US cable conglomerate is in talks to sell its 30% ownership stake in Hulu to the Walt Disney Co.
Sources speaking to CNBC said that negotiations were in the works. If true, the transaction would make the House of Mouse the solo owner of the streaming service, which until recently was a joint venture of Comcast-owned NBC, FOX and Disney, owner of the ABC broadcast network.
Comcast CEO Brian Roberts pushed back on the news during the company’s earnings call on Thursday.
“On Hulu, the relationship with NBC, that is very much in everybody's interest to maintain,” he said. “And where have no new news today on it other than it's really valuable. And we're really glad we own a large piece of it.”
AT&T’s WarnerMedia division sold back its 10% stake to Hulu last week, in a deal that valued Hulu at $15 billion, with AT&T’s interest worth $1.43 billion. FOX meanwhile divested its stake as part of the deal with Disney for the Fox media assets.
Comcast this week reported revenue gains of 4.2% for the first quarter, reaching $14.3 billion, with EBITDA rising 9.8% to $5.7 billion – the highest it has been in 10 years.
Comcast CEO Brian Roberts pushed back on the news during the company’s earnings call on Thursday.
“On Hulu, the relationship with NBC, that is very much in everybody's interest to maintain,” he said. “And where have no new news today on it other than it's really valuable. And we're really glad we own a large piece of it.”
AT&T’s WarnerMedia division sold back its 10% stake to Hulu last week, in a deal that valued Hulu at $15 billion, with AT&T’s interest worth $1.43 billion. FOX meanwhile divested its stake as part of the deal with Disney for the Fox media assets.
Comcast this week reported revenue gains of 4.2% for the first quarter, reaching $14.3 billion, with EBITDA rising 9.8% to $5.7 billion – the highest it has been in 10 years.
