Richard Drew, Associated Press
In this Aug. 8, 2017, file photo, The Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange. Disney closed its $71 billion acquisition of Fox’s entertainment assets on Wednesday, March 20, 2019, more than a year after the mega merger was proposed. Disney gets far ranging properties ranging from Fox’s film studios, including “Avatar” and X-Men, to its TV productions such as “The Simpsons” and networks including National Geographic.

SALT LAKE CITY — It’s a small world, but it’s getting bigger every day for Disney.

The company announced today that it will take “full operational control” over Hulu today ahead of the launch of its Disney+ streaming service.

According to CNBC, Comcast will hand over the keys to Hulu effective immediately, but will still retain shares in the platform. It will have the option to sell its 33% stake to Disney in 2024 for at least $27.5 billion, regardless of Hulu’s worth.

Disney will also pay Comcast to host NBC content on Hulu over the next five years. That content will also be able to appear on Comcast’s upcoming streaming service starting next year. NBC is currently paid $500 million a year for its library on Hulu.

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Comcast is also not expected to provide any funding towards its proportionate one-third share of Hulu. Disney currently owns two-thirds of the platform following its merger with Fox.

According to CNN, Disney hopes to involve Hulu more in its streaming strategy. It will likely bundle both Hulu and Disney+ together and could use Hulu to focus on delivering more adult-oriented content, like “The Handmaid’s Tale” or Marvel’s upcoming Ghost Rider show, which I previously wrote about for Deseret News.

CNN also reports that the United States-exclusive Hulu has about 27 million subscribers, which is about half of Netflix’s U.S. subscriber count.