NBCUniversal may pull shows from Hulu in change of partnership with Disney - WSJ
Michael Kovac/Getty Images Entertainment







NBCUniversal (NASDAQ:CMCSA) is closing in on a deal to change the way it shares shows on Hulu, the WSJ reports - the latest step in a process that seems to be unwinding its partnership on the streaming service with majority owner Disney (NYSE:DIS).
The new deal would shift new episodes of higher-profile programming to its own Peacock streaming service, according to the report - including shows like Saturday Night Live, The Voice, and American Auto - as soon as the fall.
Comcast entered into the partnership on Hulu with Disney and Fox (and later Time Warner) years ago. That was before Disney bought out Fox's media assets and WarnerMedia (NYSE:T) agreed to sell its stake back to the others - and before NBCUniversal had its own streaming property to protect.
NBCU is facing a Friday deadline to inform Disney of its plans. But moving shows to Peacock would seem to accelerate the prospect that Comcast sells out of the partnership entirely, leaving Disney with sole ownership of Hulu.
Comcast gets paid by Disney for its content on Hulu, so the question of when to get out of the partnership is a complex financial and strategic one. Comcast agreed in 2019 to sell its Hulu stake to Disney in five years, in a deal that saw it giving up voting rights immediately. But the deal also gave NBCU the option of ending most of its licensing deals with Hulu in 2022.