The Walt Disney Company on Wednesday announced it will buy Comcast's $8.6 billion stake in Hulu, completing its takeover of the streaming service.
The acquisition will "further Disney's streaming objectives," the company said in a news release, and comes as it strives to boost subscriber numbers at its Disney+ streaming service.
The deal values Hulu at $27.5 billion in total, according to Disney, which said the transaction will be concluded by Dec. 1.