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The Walt Disney Co. values Hulu at $9.3bn

In its SEC filing last week, The Walt Disney Co. (Disney) included its current valuation of streaming service, Hulu at $9.26bn. Reuters reports that this was among a trove of details regarding Disney’s planned merger with 21st Century Fox (Fox) in a deal valued at $71.3bn. Once the Fox transaction is completed in 2019, Disney will gain a controlling 60% interest in Hulu. The current valuation is slightly above the $9bn at which it was pegged in April but is lower than some analysts had estimated.

In 2016, Time Warner bought a 10% stake in Hulu for $583mn and at that stage Hulu’s value was pegged at below $6bn. The other partners in the venture (Comcast and Fox), each own a 30% interest in the company. Disney said that its current 30% stake in Hulu is worth $2.425bn. Once the Fox acquisition is completed, Disney’s interest in Hulu will rise to $6.1bn — a sum that includes a $1.25bn bump for gaining control, according to the filing. Hulu, which is available in the US and Japan, has c. 20mn subscribers. However, it remains tiny in comparison with Netflix which has 137mn subscribers worldwide and a $114.3bn market cap.



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WEBINAR | The Navigator – Anchor’s Strategy and Asset Allocation, 2Q24

Anchor CEO and Co-CIO Peter Armitage will host the webinar, provide an introduction to current global and local market conditions and give his thoughts on offshore equities. Together with Head of Fixed Income and Co-CIO Nolan Wapenaar, Pete will also discuss Anchor’s strategy and asset allocation for 2Q24, focusing on global equities and bonds. In addition, Fund Manager Liam Hechter will provide insights into local equities, highlighting some investment ideas; Global Equities Analyst James Bennet will discuss Ferrari and give an update on Tesla, and finally, Analyst Thomas Hendricks will participate in a Q&A with Peter, explaining the 10-year US Treasury to attendees.