Comcast CEO Brian Roberts told investors on a call that he thinks Hulu will end up being sold to Disney. Roberts also thinks that Comcast will come out in a good place when the deal with Disney is made.
“I think we have a very valuable position,” Roberts told the MoffettNathanson Inaugural Technology, Media and Telecom conference. This comes as Roberts was talking about Hulu and the one-third stake that Comcast still holds. There is an option that would allow Comcast to require Disney to take over its minority stake. Disney currently owns the other two-thirds of Hulu.
Roberts referenced Disney’s shareholder call last week where Disney CEO Bob Iger shared about the importance of general entertainment like what is seen on Hulu. “I think it’s more likely than not … that we’ll put, they’ll call at the beginning of next year,” Roberts said.
Talks have already begun between Disney and Comcast about Hulu. “I can’t tell you and I can’t really say where they end up, only to say that there seems to be real value in having general entertainment combined with Disney+. And if, ultimately, Hulu is that solution, that’s we’re — we’re bullish about that,” Iger said about the talks.
“I’m pretty certain that when we sell our Hulu stake, it’ll be for more than what we have in it. In fact, that’s contractually certain,” Roberts said in regard to the shareholder value of the sale.
The discussion about the future of Hulu comes as Disney announced plans last week to create a one-app offering that will combine Disney+ and Hulu for those who are subscribers as both.
