Disney (NYSE: DIS) has repeatedly made headlines in 2022 as more subscribers flocked to its streaming service Disney+. The company looks likely to be a major winner in the streaming wars as it has consistently grown its market share and offered engaging content that pulled in competitive viewing numbers.
While the company is pulling out all the stops to grow Disney+, the almost three-year-old service isn't Disney's first streaming endeavor. The company first ventured into streaming in 2009 when it became a stakeholder in Hulu. It gained a 67% majority stake in 2019 when it acquired 21st Century Fox and AT&T sold back its roughly 10% stake. Comcast (NASDAQ: CMCSA) holds the remaining 33%, and the two companies agreed in 2019 on a deal under which it could sell its stake to Disney as early as January 2024. As that sell date approaches, Comcast and Disney have commented on their hopes for the impending deal.
Disney has had a fruitful 2022, and full ownership of Hulu could further boost its earnings potential. As a result, Disney's stock looks like an excellent buy for the long term.
Source Fool.com