Hulu, Disney
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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.
The long and winding road of Hulu, which started out as a joint venture of NBC and Fox, has now concluded with Disney finalizing its buyout of Comcast.
Loop Capital upgrades Disney's price target to $130 after its full acquisition of Hulu from Comcast, citing enhanced streaming strategy and synergy.
Walt Disney Co. (NYSE: DIS) shares are trading higher Tuesday after the company announced it will pay Comcast $438.7 million to acquire the company's 33% stake in Hulu.