Business

Everything is on the table with Hulu now, according to Disney CEO Iger.

Disney CEO Bob Iger said Thursday that “everything is on the table” with streaming service Hulu.

Disney owns two-thirds of the streaming service focused on general adult entertainment content such as Killing in the Building and sci-fi thriller Prey. Iger wants Disney to focus on its family franchises like Frozen and the Marvel Cinematic Universe.

Disney is expected to buy the rest from Comcast as early as January 2024

Iger’s comments about Hulu came as he told CNBC’s David Faber that he plans to cut Disney’s general entertainment content.

He said he’s not going to speculate now about whether Disney is a buyer or seller of Hulu.

However, Iger also noted that “streaming is the future” and that the streaming segment of the business is a top priority.

Disney and Comcast went back and forth on Hulu. Comcast submitted an offer to buy a 66% stake in Hulu from Disney, but Disney rejected the idea, CNBC previously reported. In May 2019, the two companies reached a tentative agreement that Comcast would sell its minority stake in Disney by 2024.

As the 2024 deadline approaches, Disney has the option to buy back a 33% stake in Comcast. Disney has guaranteed a minimum value of $27.5 billion for Hulu. Ahead of a potential Disney buyout, Comcast has moved shows like “Saturday Night Live” to its Peacock streaming platform.

Iger’s comments on Hulu on Thursday came after Disney announced it would cut 7,000 jobs as well as a general reorganization of the business into three central divisions: streaming and media operations, ESPN and parks. He also said he would cut $5.50. billion costs. The reorganization marks Eiger’s most significant move since his return to power in November.

Disney shares closed down 1% on Thursday.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.


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