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Iger’s $27.5 Billion Hulu Question

To buy or not to buy is Disney’s first Hamletesque question under its new/old C.E.O. Then there’s the matter of how much it can really pay and how the service should be integrated. Activist investor Nelson Peltz is watching—and so is the entire industry.

bob iger
Disney C.E.O. Bob Iger is facing mounting pressure regarding his streaming strategy. Photo: RB/Bauer-Griffin/GC Images
Julia Alexander
January 17, 2023

Hulu, Disney’s streaming stepchild and a fixation of activist investors Nelson Peltz and Dan Loeb, has long been an object of industry fascination—almost like a strategic port in war. The platform, which launched in the wake of the iPhone, Netflix streaming, and the direct-to-consumer revolution, found backers and partial owners in a few companies, including NBCUniversal, Fox, and Disney. Disney ultimately became the controlling owner after it acquired the 21st Century Fox assets.