Disney CEO Open to Selling Hulu

Disney CEO Bob Iger thinks it may be smarter for the company to sell Hulu versus paying billions to buy out Comcast's share of the streaming platform. The news came when he was asked during an appearance on CNBC about his plans for Hulu as the deadline comes near to buy or sell it. Per Deadline, Iger told the news outlet: "Everything is on the table right now, so I am not going to speculate whether we are a buyer or a seller of it. But I obviously have suggested that I'm concerned about undifferentiated general entertainment, particularly in the competitive landscape that we are operating in, and we are going to look at it very objectively and expansively." Iger added that he'd be "open-minded" if Comcast CEO Brian purchases Disney's stake. Iger further noted that it's best not to assume Disney would purchase Comcast's remaining stake in Hulu, adding, "And I think I am suggesting that that is not necessarily the case."

As of now, Disney owns two-thirds of Hulu, with Comcast owning the remainder. Comcast can require Disney to buy its stake, and Disney can require Comcast to sell the stake as part of a clause in the current contract.

But amid the current market, Disney has been focused on staying financially stable, which involves major cuts. Iger revealed a restructuring plan that includes 7,000 layoffs to reduce costs. He's admitted that streaming is his "No. 1 priority," but insists he will continue to focus efforts on theater releases and linear television. 

However, like most media companies, Disney is struggling to compete in a market oversaturated with streaming options. Many of their recent releases, both film and television, have been released on Disney+. "We're in a very interesting transition period, one that is inevitably heading toward streaming," he said, per Deadline.