Disney Takes Equity Stake in Hulu; Adds ABC Full Episodes

Authored by Mark Hefflinger on April 30, 2009 - 8:12am.

Los Angeles - Confirming earlier reports, Disney (NYSE: DIS) announced on Thursday that it has signed a deal to take an equity stake in, and provide full-length TV episodes to Hulu, the video website joint venture between News Corp. (NYSE: NWS) and NBC Universal (NYSE: GE). Coming to Hulu will be shows from ABC, SOAPnet and Disney Channel, including "Grey's Anatomy," "LOST," "Jimmy Kimmel Live," "The View" and "General Hospital."

The equity deal will see each of the three main partners get 27% of the joint venture, with the remaining 19% split between investor Providence Equity Partners and Hulu employees, according to PaidContent.

Disney will get three seats on the Hulu board, to be held by president and CEO Bob Iger; Anne Sweeney, co-chair, Disney Media Networks and president, Disney/ABC Television Group; and Kevin Mayer, executive vice president, corporate strategy, business development & technology.

"From our landmark iTunes deal to our pioneering decision to stream ad supported shows on our ABC.com player, Disney has sought to meet the constantly evolving viewing habits of our consumers, and today's Hulu announcement is the next important step in that ongoing journey," said Iger.

http://snipurl.com/h3o38 (PaidContent)

Published in DMW Daily, April 30, 2009

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Comments

It's great!!Walt Disney

Submitted by nanocid (not verified) on May 27, 2009 - 7:18pm.

It's great!!Walt Disney Company and Hulu finally have resulted in a deal making the company a partner with News Corp. NBC Universal and Providence Equity Partners in the video portal and distributor. The deal, which has yet to close, adds ABC’s prime time shows to Hulu as well as its daytime soaps and programming from ABC Family, Disney Channel and SOAPnet.