The streaming wars entered yet another iteration on Wednesday as Disney announced a major change to the division that it calls direct-to-consumer: Disney+ will integrate Hulu’s operations, transforming into something that looks a lot like the old linear TV bundle. As CEO Bob Iger told investors on the company’s third-quarter earnings call, “combining Hulu into Disney+ [will] create a unified app experience, featuring branded and general entertainment, news, and sports, resulting in a one-of-a-kind entertainment destination for subscribers.”
The night before Disney released its third-quarter earnings, the company confirmed it had struck a deal with its longtime partner in sports, the National Football League, an asset and equity swap that sees the NFL getting a 10% stake in Disney’s ESPN division and ESPN/Disney acquiring several streaming assets from the NFL. The NFL’s 10% stake in ESPN is valued between $2 billion and $3 billion, per estimates from Octagon.
