Disney to Acquire 33% of Hulu from Comcast

The Walt Disney Company (Disney) and Comcast Corporation (Comcast) have just announced that the companies have entered into an agreement wherein Disney will take “full operational control” of Hulu, effective immediately, and will purchase 33% ownership in Hulu in 5 years.

Under the put/call agreement, as early as January 2024, Comcast can require Disney to buy NBCUniversal’s interest in Hulu and Disney can require NBCUniversal to sell that interest to Disney for its fair market value at that future time. Hulu’s fair market value will be assessed by independent experts but Disney has guaranteed a sale price for Comcast that represents a minimum total equity value of Hulu at that time of $27.5 billion.

Disney seems to be going all out on this whole video streaming business.

May 14, 2019 ✚ Permalink

OLA: Clearing the Air

Yesterday, a report was published by DNA that quoted “sources” claiming that Uber was looking to buy a controlling stake in rival OLA by buying out all of its stake holders, including promoters Bhavish Aggarwal and Ankit Bhati, except for SoftBank.

“Uber is buying a controlling stake in Ola, where all the shareholders, except SoftBank, is being bought out. The enterprise valuation is being estimated at $4billion,” said the source.

OLA rebuffed this report as baseless and today, has clarified on the official blog:

We would like to state that the article, attributed to an ‘unnamed source’ is completely false, misleading, malicious and planted in the said newspaper with the intent of causing harm to the Ola brand and creating confusion among our stakeholders.

We are shocked and dismayed at the lack of journalistic ethics in carrying the story, despite our repeated denial to the reporter and the publication’s editorial representatives. We also had received a verbal confirmation that the report shall not be carried given the company’s denial.

We will initiate appropriate legal action and seek redressal and compensation for the damage caused to us by this irresponsible reporting from DNA.

Yikes!

April 16, 2016 ✚ Permalink