Brokerage firm Loop Capital increased its target price on Walt Disney as the firm nears the acquisition of Hulu. Hulu to add more Disney+ content Alan Gould, Loop Capital analyst, maintained his “buy” call on the company while increasing its target price to $130 from $125.
Walt Disney Co (NYSE:DIS, ETR:WDP) has completed its acquisition of Hulu, paying Comcast Corporation (NASDAQ:CMCSA, ETR:CTP2) an additional $438.7 million to secure the remaining 33% stake in the streaming service. The deal gives Disney 100% ownership, paving the way for deeper integration with Disney+ and ESPN's upcoming direct-to-consumer platform, chief executive Bob Iger said.
Disney has agreed to pay Comcast $438.7 million to acquire Comcast's stake in streaming service Hulu. In 2023 Disney said it would buy Comcast's remaining stake in Hulu to take full ownership of the streaming service.
The long and winding road of Hulu, which started in the pre-smartphone era as a joint venture of NBC and Fox, has now concluded with the closing of Disney's buy-out of Comcast. Disney is paying an extra $438.7 million to Comcast's NBCUniversal, on top of the $8.
It was the end of an era at Walt Disney's (DIS 0.70%) Florida resort over the weekend. Muppet*Vision 3D, an attraction that entertained visitors to Disney's Hollywood Studios for more than 34 years, closed after its final guest performance on Saturday night.
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