CMCSA Comcast Corporation

By Will Feuer

Comcast Chief Executive Brian Roberts said the company and Disney have agreed to pull forward the date that kicks off the two entertainment giants' official Hulu deal talks.

Comcast owns about a third of Hulu, while Disney owns the remaining stake in the adult-focused streaming platform.

Roberts, speaking at the Goldman Sachs Communacopia + Technology Conference, said the two companies agreed last week to move the date up to Sept. 30 from January.

Under the original 2019 agreement, Disney had the option to buy out Comcast in January 2024. That agreement also ascribed Hulu a floor valuation of $27.5 billion, but Roberts said Wednesday that Hulu's true valuation is higher now.

"We are excited to get this resolved," he said. "The company is way more valuable today than it was then."

Shares of Comcast rose more than 1% in midday trading.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

September 06, 2023 12:07 ET (16:07 GMT)

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