Robert Iger, chairman and chief executive officer of Walt Disney Co. and Brian Roberts, Comcast chairman and CEO.

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Comcast has agreed to sell its stake in Hulu in five years to Disney and give up its voting rights immediately, according to

The company could either sell it at a valuation $27.5 billion or whatever Hulu is appraised to be worth in five years.

As part of the deal, Disney has agreed to pay Comcast for its Hulu content for the next five years.

NBC channels will be on Hulu Live at a higher rate than previously agreed. NBC will also be able to run the same content on its own streaming platform which is expected to launch in the spring of next year.

NBC will be charging less than $12 a month for non-pay TV subscribers. For pay TV subscribers the service is free.

Currently, NBC gets paid $500 million a year for its library content on Hulu.



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