Disney took control of Hulu. The transfer is effective immediately.
This is a very complicated business deal, but basically, Comcast relinquished operational control to Disney, and Comcast now owns 33% of Hulu.
The agreement can be levied as early as January 2024 at which time either party can require the sale/purchase of Hulu for full market value, which will be assessed at the time by an expert but will not be less than $27.5 billion.
Bob Iger is happy about the agreement saying that they will incorporate Hulu into their direct-to-consumer business allowing Disney to stream content with a more adult theme on Hulu while Disney+ sticks to the family-friendly content. Since Disney already owns ESPN, it will be part of the streaming service as well. In fact, Disney plans to bundle all of these services for one price.