Welcome to What I’m Hearing+, en route back from Beacon, one of my favorite towns in the Hudson Valley and home to an incredible art fair. The only members of our friend group who enjoyed it more were the pups excited to run around a proper backyard and not a Brooklyn apartment.
This week, a close look at the strategic thinking behind Hulu’s real value to Disney, beyond the inevitable headline number.
Consolidation Clues: I’m often asked about future consolidation across the streaming industry, and what might inevitably force rivals to cooperate. The latest data point: David Zaslav’s decision to license 12 recent DC films to Netflix, a cash-grab gambit that my partner Matt Belloni shrewdly analyzed in the latest What I’m Hearing. As I mentioned a few weeks ago, Netflix is re-entering...
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Now that Disney is finally acquiring the final third of Hulu from Comcast, the overall valuation of the asset—and what Bob Iger ends up paying for it—may be less material than the investment required to maintain it.
The quasi-news announcement last week that Disney will fully acquire Hulu—as has been obvious for months—has prompted far more consequential questions about the business. Foremost among them, of course, regards the price that Bob Iger will pay Comcast for the remaining one-third of the asset that Disney doesn’t already own. Surely, Hulu is worth...
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