DIS Shareholders and Stock Info ONLY

[Elijah Abrams]

Disney owes an additional $438.7M to complete the acquisition of Hulu from NBCU. Deal will be considered finalized as of July 24, 2025.

https://otp.tools.investis.com/clie...&FilingId=18537883&CIK=0001744489&Index=10000

On November 1, 2023, a subsidiary of NBC Universal (collectively with its subsidiaries, “NBCU”) provided notice to a subsidiary of The Walt Disney Company (collectively with its subsidiaries, “Disney”) of its exercise of its right under a put/call arrangement to require Disney to purchase NBCU’s 33% interest in Hulu, LLC (“Hulu”) at a value based on NBCU’s equity ownership percentage of the greater of Hulu’s equity fair value, determined pursuant to a contractual appraisal process, or a guaranteed floor value of $27.5 billion (the “guaranteed floor value”). In December 2023, Disney paid NBCU approximately $8.6 billion, which reflected the guaranteed floor value less NBCU’s unpaid capital call contributions.
During the initial phase of the appraisal process, Disney’s appraiser arrived at a valuation below the guaranteed floor value, while NBCU’s appraiser arrived at a valuation substantially in excess of the guaranteed floor value. The final equity fair value, which was completed on June 9, 2025, takes into account the valuation of a third appraiser, which if it had been equal to or below the guaranteed floor value would have resulted in no additional amount payable to NBCU and if it had been consistent with the NBCU’s appraiser’s valuation would have resulted in an additional amount of approximately $5 billion payable to NBCU as its share of the difference between the equity fair value and the guaranteed floor value.

Pursuant to the contractual appraisal process that was completed on June 9, 2025, an additional $438.7 million is payable by Disney to NBCU to purchase NBCU’s interest in Hulu.
This amount will be recorded in “Net income attributable to noncontrolling interests” and thus reduce “Net income attributable to Disney” in our Condensed Consolidated Statements of Income for our fiscal third quarter. This amount is also expected to be excluded when Disney reports Adjusted EPS, the non-GAAP measure representing diluted earnings per share excluding certain items, and therefore is not expected to impact Disney’s previous guidance on fiscal 2025 Adjusted EPS.

The acquisition of NBCU’s interest in Hulu will close on or before July 24, 2025.
The following statement was provided to media outlets:

“We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck. Completing the Hulu acquisition paves the way for a deeper and more seamless integration of Hulu’s general entertainment content with Disney+ and, soon, with ESPN’s direct-to-consumer product, providing an unrivaled value proposition for consumers.”

Thank goodness that Hulu saga is over.

 

[wabbott]

https://ca.finance.yahoo.com/news/moguls-aim-zaslav-vision-wbd-002155602.html

Moguls Take Aim at Zaslav’s Vision of WBD as Company Splits: ‘It Was a Failure’

Said one top executive: “It’s a deal that never had a shot and shouldn’t have been done. But they’ve also done a terrible job running the company”

by Sharon Waxman - The Wrap

June 9, 2025 @ 5:21 PM PDT

 

[wabbott]

Yet another sad chapter in the saga of some major players in the industry. Remember back in the days when CNN was a juggernaut? When Time Warner thought AOL was a great investment? So many bad decisions.

They saw your comment and wrote this:

https://www.hollywoodreporter.com/b...-discovery-breakup-failed-mergers-1236260379/

It’s Not You, It’s WB: A Brief History of Warners’ 21st Century Mergers and Breakups

The pending split of Warner Bros. Discovery will be the third undone merger for the media giant since 2009.

June 9, 2025 - 2:01pm PDT
by Rick Porter - Television Business Editor

 

[HokieRaven5]

If Comcast didn’t also have $90B in debt on the books, them acquiring the streaming/Studios sector of WBD would make sense as far as bringing a portion of what they license for the universal parks in house.