Disney might renounce its 67% ownership in Hulu in order to acquire more Marvel licenses: Citi

One media analyst speculates that Disney may sell its significant share in the streaming service Hulu in exchange for the Hulk.

According to a note by Citi analyst Jason Bazinet, The Mouse House may part ways with its 67% ownership in the popular streamer in a deal with Comcast, which has the remaining 33%, while keeping the distribution rights to the green superhero and another Marvel character, Namor.

The Hulk and Namor, the undersea hero who appeared in the most recent Black Panther sequel, have distribution rights, even though Disney controls all of the Marvel intellectual property. Presently, all Disney-produced Hulk and Namor-focused movies may be viewed on Peacock and other NBCU streaming services.

“If Hulu is sold, Disney may use this as an opportunity to secure these distribution rights,” advised Bazinet, who rates Disney’s shares as a «buy».

In accordance with that agreement, Comcast’s remaining 33% investment in Hulu may be acquired by Disney as early as January 2024, and Comcast may also demand that Disney acquire that holding. According to Bazinet, the cost of Hulu might range from $19.8 billion to $27.5 billion.