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Disney is set to pay Comcast $438.7 million to take over Hulu, which will expand its size in the linear and streaming space.

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Iger emphasized the continued value of the broadcast and cable channels, citing revenue from advertising and subscriber fees.

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The transaction gives Disney complete ownership of Hulu, allowing for more integration with the Disney+ streaming service.

Disney has run Hulu since 2019, when Comcast ceded its authority to Disney and effectively became a silent partner.