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A Comcast Disney Hulu Deal always made sense



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Disney (NYSE : DIS) acquired many valuable things in his massive 19th century Fox deal Much of it was the media that equipped Disney to be Netflix & # 39; s (NASDAQ: NFLX) main challenger, but Disney has also acquired part of Netflix's original competition: Hulu, when Disney acquired 30-year-old Century Fox's 30% stake, Disney owns a controlling stake in streaming service it already owned part of. "data Disney (NYSE: DIS) acquired many valuable things in his massive 20th century Fox deal. Much of it was the media that has equipped Disney to be Netflix s (NASDAQ: NFLX) main challenger. But Disney also got a share of Netflix's original competition: Hulu. Once Disney's 30-year Century Fox's 30% share, Disney owns a controlling stake in the streaming service it already owns.

<p class = "canvas-atom canvas-text Mb (1

.0em) Mb) – sm Mt (0.8em) – sm" type = "text" content = "Hulu was founded as a joint venture and after Disney The Fox deal was owned by Disney, Comcast ] (NASDAQ: CMCSA) and AT & T (NYSE: T) . new subsidiary WarnerMedia's 10% Hulu share back to Hulu LLC, what was already likely to be inevitable: Disney would acquire Comcast's share of Hulu. "data-response time =" 12 "> Hulu was founded as a joint venture and after The Disney Fox Agreement was owned by Disney, Comcast (NASDAQ: CMCSA) and AT & T (NYSE: T) . After AT & T sold the new subsidiary WarnerMedia's 10% Hulu share back to Hulu LLC, it was likely to be inevitable: Disney would acquire Comcast's share of Hulu.

<p class = "canvas fabric canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Disney had not heard of his desire to get full control over Hulu, and now Comcast and Disney have reached an agreement Comcast hasn It has not yet been sold, but the terms of the agreement lock both sides for a possible sale. "data-response time =" 13 "> Disney had not heard of his desire to gain full control of Hulu, and now Comcast and Disney have reached an agreement. Comcast has not yet sold, but the terms of the agreement lock both sides into a possible sale.

Godlen coins fall through the hands of a man wearing a suit.

Image Source: Getty Images.

Why Disney wants the whole of Hulu

For Disney, who owns all of Hulu makes much more sense than owning part of it. The most important thing we've learned about streaming over the last few years is that it's the most cost-effective way to manage the entire content pipeline from the studies that make the content for the streaming service flying it.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Netflix has found that it can save money in the long run by producing its own content thereby becoming less dependent on animal and temporary content license agreements. On the back, media companies with sufficient content have realized that they could cut off streaming services out of the deal and does streaming itself. That's what Disney does with Disney +. & nbsp; "data-reactid =" 28 "> Netflix has found that it can save money in the long run by producing its own content and thus becoming less dependent on expensive – and temporary content license agreements. On the back, media companies with sufficient content have realized that they could cut off streaming services out of the deal and make streaming themselves. That's what Disney does with Disney +.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "When Disney owned all Disney + and just one Part of Hulu was a bit messy. Prior to the dealings with AT&T and Comcast, which gave it control over Hulu, it seemed obvious that Disney would rather send its biggest properties to its wholly owned streaming service while Hulu's other Owners would probably not have been thrilled to send their own features to Disney's disadvantaged streaming service ahead. This mess led many (19459030), including your truly ) to worry about the future of Hulus content. " = "29"> When Disney owned all of Disney + and only part of Hulu, it was a bit messy. Prior to the dealings with AT&T and Comcast, which gave it control over Hulu, it seemed clear that Disney would rather send its largest properties to its wholly-owned streaming service, while Hulu's other owners would probably not have been thrilled with Sending their own properties to Disney's disadvantaged streaming service in the future. This mess led many (including yours really) to worry about the future of Hulus content.

With Disney in full control of Hulu, this problem disappears more or less. It seems to be Disney's strategy – which fits Disney's public assurances that it will continue to deliver Hulu with premium content from Disney-owned studios.

Of course, for all this to work, Comcast needed to play ball. Let's talk about why it was probably inevitable.

Why Comcasts exit makes sense

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Comcast is on record as being reluctant to share with his stake in Hulu. But there were many ways in which payment of Hulu made sense to Comcast. "Data-response time =" 33 "> Comcast is on record as be reluctant to share with his share in Hulu. But there were many ways in which the payment of Hulu made sense to Comcast.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – Comcast's NBC has some of the greatest media properties around, including the US version of The Office And we have seen that companies with valuable content will create streaming services and Comcast goes on to playbook. It is planning to release its own streaming service by 2020 . "> Comcasts NBC has some of the largest media properties around, including the American version of The Office . And we've seen that companies with valuable content will create streaming services, and Comcast goes on to playbook. It plans to release its own streaming service by 2020.

Comcast does not want to deliver its content to streaming competitors such as Netflix or a Hulu, which Disney owns the majority of.

On top of all this, Comcast had a uniquely frustrating time as a Hulu co-owner. When Comcast bought NBC in 2011, it received a stake in Hulu, but also signed an agreement that prevented it from saying anything in Hulu's direction for seven years. Only in 2018 Comcast got its voice back – and then Disney took a decisive interest.

Let's make an appointment

Of course, Comcast didn't have to bail out. It could hold on and continue to make money, especially if Disney's collective streaming offer turned out to be our first real "Netflix killer". And Comcast would be wise to hold it if it believes Hulu's assessment will go up.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em)" Hulu's valuation went up ahead of Comcast Disney Agreement. The deal, which sent AT & T's 10% back to Hulu LLC, bailed the company's $ 15 billion worth, up from $ 9.6 billion Disney listed in a SEC filing in November 2018. Therefore, conversations may be Between Comcast and Disney moved so quickly afterwards. "data-reactid =" 43 "> But Hulu's assessment went up ahead of the Comcast Disney agreement, the agreement that sent AT & T's 10% back to Hulu LLC brought The company's $ 15 billion worth of $ 9.6 billion worth of Disney filed in a SEC filing in November 2018. Maybe that's why conversations between Comcast and Disney moved so quickly afterwards.

And there's one aspect of the deal that I didn't predict: Comcast doesn't sell right away. The frame of the Disney Comcast agreement buys Comcast some time (Comcast hopes) to see its Hulu efforts grow in value. If things go out, Comcast can get a good price on a valuable Hulu action and it is time to enjoy the fruits of its own fully-owned streaming service. Time will tell.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0 ) – sm Mt (0.8em) – sm "type =" text "content =" More from The Motley Fool "data-reactid =" 45 "> More from The M otley fool

<p class = "canvas-atom canvas text Mb (1.0em) Mb sm Mt (0.8em) – sm" type = "text" content = " Stephen Lovely owns shares in AT&T and Netflix. Motley Fool owns and recommends Netflix and Walt Disney. Fool recommends Comcast. The Motley Fool has a policy of enlightenment . "data-reactid =" 53 "> Stephen Lovely owns shares in AT & T and Netflix The Motley Fool owns shares and recommends Netflix and Walt Disney The Motley Fool recommends Comcast, Motley Fool has an information policy.


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