Disney to Pay Comcast $439 Million More for Its Hulu Stake (2)

Walt Disney Co. must pay $438.7 million more to Comcast Corp. to complete its purchase of the Hulu streaming service, Disney said in a regulatory filing Monday.

The transaction will close before July 24. The payment will reduce Disney’s net income in the fiscal third quarter, the company said.

Disney agreed in 2019 that it would acquire Comcast’s one-third stake in the business at price that valued the whole enterprise at a minimum of $27.5 billion starting in 2024. When it came time to complete the sale, however, Comcast said the business was worth much more.

The two sides began ...