Comcast, Disney hire investment banks to value Hulu as sale process makes progress
Publishing timestamp: 2023-10-12 14:28:55
Summary
Comcast and Disney have hired investment banks to appraise the value of Hulu. On November 1st, they can trigger an option that will initiate the sale process, with Disney acquiring Comcast's minority stake in Hulu. The minimum valuation of Hulu is set at $27.5 billion. Each company has hired a different investment bank to provide a fair value for Hulu. The valuation process will determine the sale price, and if the valuations from the two banks are within 10% of each other, the average will be used. If not, a third investment bank will be hired to make another valuation conclusion. The process does not have a specific timeline, but both companies want a resolution soon. Comcast plans to return the proceeds from the sale to shareholders.
Sentiment: NEUTRAL
Keywords: jpmorgan drn, morgan stanley, walt disney co, comcast corp, technology, media, breaking news: business, business news,
Source: https://www.cnbc.com/2023/10/12/comcast-disney-hire-morgan-stanley-jpmorgan-to-value-hulu.html