Disney today announced its plans to acquire the remaining 33 percent stake in Hulu from Comcast. The deal is expected to cost Disney around $8.61 billion, pending a final appraisal scheduled to conclude next year. This buyout comes as a result of an agreement made in 2019, which allowed Comcast to compel Disney to purchase its stake, and likewise, Disney could require Comcast to sell. Comcast has decided to expedite negotiations with Disney, bypassing the original 2024 timeline.

Disney expressed in its announcement that the acquisition of Comcast’s share in Hulu at fair market value will significantly advance its streaming goals. Earlier this year, Disney revealed its intentions to launch a “one-app experience” by the end of 2023, combining content from Disney+ and Hulu. While not explicitly stating its plans to buy out Comcast at the time, this move strongly hinted at Disney’s intention to take full control of Hulu. It’s worth noting that Hulu’s standalone app will continue to exist, but its content will also become accessible on Disney+ when the new integrated experience goes live.

Disney’s CEO, Bob Iger, referred to the combined streaming app as “a logical progression” of the company’s direct-to-consumer offerings. He emphasized that this move will provide more opportunities for advertisers and deliver a more streamlined content experience to bundle subscribers.

On the other hand, Comcast, with its own streaming service, Peacock, has been making its shows, like “The Voice,” available to its subscribers. This dynamic shift in ownership underscores the intensifying competition in the streaming industry, as major players vie for supremacy in the ever-growing world of online content consumption.