Hulu is on its way to getting a new owner.
Comcast announced Tuesday it's agreed to sell its stake in the streaming service to Disney as early as January 2024. The deal's total equity value will be worth at least $27.5 billion.
Even though the actual sale won't happen for several years, Disney is taking full operational control of Hulu immediately.
Disney became the majority stakeholder in the streaming service when it acquired 21st Century Fox earlier this year, and the media company's made it clear Hulu will play a key role in its streaming strategy.
While announcing plans to launch a new video-on-demand offering called Disney+, top executives said the service may be bundled with Hulu.
In a statement, Disney CEO Bob Iger said, "Hulu represents the best of television...We are now able to completely integrate Hulu into our direct-to-consumer business."
As part of the deal, NBCUniversal has the option to separate its content from Hulu in three years as it prepares to launch its own streaming service.
At the end of April, Hulu said it had roughly 28 million subscribers.
Additional reporting from Newsy affiliate CNN.