Walt Disney Co. is in talks to acquire the 30% stake in Hulu held by Comcast Corp., a deal that would hand over complete control of the video-streaming service.
. Disney is expanding online as more consumers drop traditional pay TV for internet-based competitors such as Netflix Inc. Hulu will focus on more grown-up fare. Last year, the service’s subscriber base grew by 8 million, a rise of nearly 50%.
Disney, which had long-term debt of $17.2 billion at the end of 2018, took on additional borrowing with the Fox deal. Standard & Poor’s lowered its rating on Disney’s obligations by one notch last month, to A from A+, citing operational risks associated with the purchase of Fox assets. Comcast has never had a big say in Hulu’s operations. The cable operator was barred from influencing the service under a consent decree with the U.S. government linked to its takeover of NBCUniversal in 2011. The service got its start providing catch-up viewing to shows that had just aired on the major networks.
“On Hulu, the relationship with NBC — it’s very much in everybody’s interest to maintain,” Roberts said. “We have no new news today on it, other than it’s really valuable. And we’re really glad we own a large piece of it.”
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