Disney to buy out Hulu from Comcast for about $8.61 billion

The Walt Disney Company, which currently owns two-thirds of Hulu, is buying the remaining third from Comcast's NBCUniversal to "further [its] streaming objectives."

Disney's announcement Wednesday said it's expecting to pay "approximately" $8.61 billion for the remaining 33 percent stake in Hulu. That figure is based on a 2019 valuation of Hulu, pegging the streaming service's value at $27.5 billion.

But Disney noted that it may pay more than $8.61 billion, pending an appraisal. Disney said it's unsure how long the appraisal process will take but expects to complete the deal in 2024.