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As of 11:44 21 May 2019
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As of 11:44 21 May 2019

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Disney and Comcast in talks over Hulu

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Disney and Comcast are apparently in talks for Comcast to sell its 30% stake in the US video streaming platform Hulu, sources have told CNBC.

Hulu was originally a joint venture between NBC Universal - now owned by Comcast -, 21st Century Fox and AOL - now Time Warner, owned by AT&T.

The service is now owned by Comcast and Disney, which acquired ownership of Fox's 30% stake in Hulu when it completed its takeover of 21st Century Fox assets in March.

Last week, AT&T sold its 9.5% stake in the service back to Hulu, which will be split between Comcast and Disney, unless Disney takes Hulu over entirely.

Although Hulu does not disclose its revenue, both Comcast and 21st Century Fox have had to post losses in the past few years, which they attributed to write-downs due to the video streaming service.

Disney has also had to note a write-down, and a rough calculation of the write-downs shows Hulu lost at least $1bn in 2018.