Disney's $9 Billion Hulu Deal: Iger Explains Strategic Move

Disney Completes Hulu Acquisition, Paying $9 Billion: CEO Bob Iger Discusses Strategic Move In a significant development in the media industry, The Walt Disney Company has finalized its acquisition of Hulu from Comcast, paying a total of $9 billion. This includes an additional $438.7 million on top of the initial $8.6 billion already paid. Disney CEO Bob Iger, in an exclusive interview with CNBC, highlighted the strategic importance of this move. "This step is the first big step in the direction of turning this into a real growth business for the company," Iger stated. He emphasized that the acquisition allows Disney to consolidate its streaming services, creating a more seamless and user-friendly experience for consumers. This consolidation is expected to lead to increased engagement, reduced churn, and ultimately, substantial cost savings in operations. The additional payment, while significant, reflects Disney's commitment to its streaming strategy. Iger explained that the final price was determined by a third-party appraiser, resulting in a cost closer to Disney's own valuation than initially anticipated. This suggests a successful negotiation, securing a favorable outcome for Disney. The acquisition is expected to close by July 24th, marking a pivotal moment for Disney's future in the competitive streaming landscape. The move signals Disney's confidence in its streaming strategy and its commitment to providing a superior entertainment experience to its subscribers.