Disney will pay nearly $439 million to Comcast's NBCUniversal to take full control of the streaming service.
The multinational company is buying a 33% stake in Hulu from Comcast in November 2023 for $8.6 billion, based on a minimum valuation of Hulu of $27.5 billion.
Disney has also operated Hulu since 2019 after Comcast ceded control of its power to Disney and effectively became a silent partner.
Hulu launched in 2007 and quickly grew as an online platform backed by entertainment conglomerates looking to rival the internet by airing their own TV shows.
Disney planned to offer shows from ABC, ESPN and Disney Channel, and ten years later, the firm took control of the business through its acquisition of 21st Century Fox.
Disney also said in a regulatory filing that it was valued below the minimum valuation during the early stages of the valuation process, while NBCUniversal's appraiser had given a higher estimate.
Disney CEO Bob Iger said he was pleased that the matter had been resolved and appreciated the partnership with NBCUniversal and wished them well in the future.
Disney+ has also begun work on combining the two services together as ESPN+ sports streaming as a single subscription package.
The transaction is expected to close on July 24 and will be net of revenue in the fiscal third quarter, but will not affect Disney's revenue target for fiscal 2025.
