Comcast (NASDAQ: CMCSA) is highly unlikely to sell off its minority stake in Hulu cheaply, the media giant’s CEO, Brian Roberts said at a conference on Wednesday.
Roberts’ comments came after Disney’s (DIS) CEO, Bob Chapek’s comments that he would like to buy off Comcast’s minority stake, of around 33% in Hulu as quickly as possible.
According to Reuters, the deal reached back in 2019 had looked at a minimum valuation of $27.5 billion for Hulu.
The report stated that Chapek’s comments in an interview with Financial Times suggested that since viewers have grown increasingly indifferent about streaming, a more modest payout for Hulu was warranted.
However, Comcast’s CEO, Brian Roberts had a different point of view. He pointed out that Hulu, with its 46 million subscribers was an established brand and would command a premium valuation.
Roberts added that “Hulu’s a phenomenal business,” and could invite multiple bidders if it was put up entirely on sale.
