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Comcast (NASDAQ:CMCSA) rose 1.3% after the media company’s CEO said the Hulu sales process is set to begin Sept. 30.
The process was originally set to start in January.
“We pulled the date forward to start the process,” Comcast CEO Brian Roberts said at the Goldman Sachs Communacopia & Technology Conference, according to a Bloomberg account of the event.
Disney (NYSE:DIS) holds a 67% stake in Hulu after the buyouts of previous partners Fox and Time Warner, while Comcast (CMCSA) holds the other third, and a deal between the two sets up a potential buyout.
Walt Disney CEO Bob Iger in July confirmed that Disney’s intent is to buy Comcast (CMCSA) out of its remaining stake in Hulu, with an eye toward combining Hulu and Disney+.
In December, NBCUniversal chief Jeff Shell said he saw “no indications that anything else is going to happen other than Disney writing us a big check” for Hulu in 2024.
