Comcast President Mike Cavanagh said the media giant would of course consider alternative proposals for its stake in Hulu but they’d have to top its longstanding agreement to sell its remaining stake in the streamer to Disney next year.
Disney has been going through a bumpy patch and returned CEO Bob Iger indicated recently that paying billions to buy in Hulu may not be a top priority.
Under a four-year old, put-call agreement, Comcast can force Disney to buy the stake (or Disney can force Comcast to sell it) early next year.
Asked about Iger’s comments at a Morgan Stanley media conference today, Cavanagh, the CFO who was elevated last fall and works very closely with Comcast CEO Brian Roberts, said: “On this one, remember they and we, back in 2019, put together a very clean and good agreement for a put-call that does happen in early 2024.” “We are very happy with that,” he said. “But, if there is something different that comes along, we have to consider things.
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