MUMBAI: Even as Disney is consolidating its presence in the direct-to-consumer business, the media giant finally has finally taken full ownership of OTT platform Hulu. Comcast, the major stakeholder of Hulu, has entered into a deal with Disney under which the latter will assume full operational control of the streaming platform effective immediately. However, the sale won’t happen for another five years.

“We are now able to completely integrate Hulu into our direct-to-consumer business and leverage the full power of The Walt Disney Company’s brands and creative engines to make the service even more compelling and a greater value for consumers,” Disney chairman and CEO Bob Iger said in a statement.

Comcast has signed an agreement with Hulu to extend the Hulu licence of NBCUniversal content and the Hulu Live carriage agreement for NBCUniversal channels until late 2024 and to distribute Hulu on its Xfinity X1 platform.

NBCUniversal can terminate most of its content licence agreements with Hulu in three years’ time, and in one year’s time NBCUniversal will have the right to exhibit on its own OTT service certain content that it currently licenses exclusively to Hulu in return for reducing the licence fee payable by Hulu.

During the Q2 earnings call, Iger said that Hulu is the best consumer television proposition out there because it offers linear channels that include live news and sports, in-season stacking of network programming and great original programming.