Disney acquires nearly 30% stake in Hulu
Disney has acquired a stake in US online TV platform Hulu, the joint venture between NBC Universal and News Corp.
According to reports, Disney is taking nearly a 30% stake in the platform, although financial details have not been disclosed.
The deal will also see Disney broadcast full-length episodes of its ABC TV programmes like Lost, Desperate Housewives and Ugly Betty on Hulu.
Robert Iger, president and CEO at The Walt Disney Company, will sit on Hulu’s board of directors, along with Kevin Mayer, executive VP, corporate strategy, business development & technology and Anne Sweeney, co-chair of Disney Media Networks and president, Disney/ABC Television Group.
Iger said, “From our landmark iTunes deal to our pioneering decision to stream ad supported shows on our ABC.com player, Disney has sought to meet the constantly evolving viewing habits of our consumers, and today’s Hulu announcement is the next important step in that ongoing journey.”
Jason Kilar, CEO of Hulu, said, “We continue to aspire to deliver a service that users, advertisers and content owners unabashedly love.”
Digital Rights Group signed a deal with Hulu to become the first British distributor to work with the service in March.
This story first appeared on newmediaage.co.uk