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Walt Disney Co 8-K Report, Regulation FD Disclosure (Jun 9, 2025)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed June 9, 2025
Period End
June 9, 2025
Security
DIS
In the record · 2019–202610-K910-Q238-K106

DIS filed 9 annual reports (10-K), 23 quarterly reports (10-Q) and 106 current reports (8-K) between 2019 and 2026.

  1. Deal closed8-K · Aug ’19Aug ’19
  2. Leadership change8-K · Jul ’23Jul ’23
  3. Leadership change8-K · Mar ’26Mar ’26

01—Abstract

Summary

Summary of the 8-K filed June 9, 2025. Cited figures are marked; the original filing is the authoritative source.

The Walt Disney Company (DIS) filed an 8-K on June 9, 2025, to disclose the final resolution of the purchase of NBC Universal's (NBCU) 33%a stake in Hulu, LLC.

Following a stipulated appraisal process, Disney will pay NBCU an additional $438.7 millionb. This payment is a result of the final equity fair value of Hulu being determined to be higher than the previously paid guaranteed floor value of $27.5 billion, which Disney had already paid approximately $8.6 billion for in December 2023. The acquisition is expected to close by July 24, 2025.

While this additional payment will reduce Disney's reported net income attributable to Disney for the fiscal third quarter, it is anticipated to be excluded from the company's Adjusted Earnings Per Share (EPS) calculation. This means Disney's prior guidance for fiscal 2025 Adjusted EPS is not expected to be impacted.

02—Key points

Key Highlights

  1. Disney to pay an additional $438.7 million to NBCU for its 33% stake in Hulu.
  2. The final payment amount is based on a contractual appraisal process that concluded on June 9, 2025.
  3. The acquisition of NBCU's Hulu interest is scheduled to close on or before July 24, 2025.
  4. The additional payment will be recorded as a reduction in 'Net income attributable to Disney' for the fiscal third quarter.
  5. The $438.7 million payment is expected to be excluded from Disney's Adjusted EPS, thus not impacting fiscal 2025 Adjusted EPS guidance.
  6. This resolution marks the culmination of a put/call arrangement initiated by NBCU in November 2023.

03—Questions

Frequently Asked Questions

  1. What is the final cost for Disney to acquire NBCU's stake in Hulu?

    Disney has already paid approximately $8.6 billion towards the Hulu acquisition. With the final appraisal, an additional $438.7 million is payable to NBCU. The total effective purchase price will be the initial payment plus this additional amount.

  2. How will this payment affect Disney's reported earnings?

    The additional $438.7 million payment will be recorded in 'Net income attributable to noncontrolling interests,' which will reduce 'Net income attributable to Disney' in the company's Condensed Consolidated Statements of Income for the fiscal third quarter.

  3. Will this additional payment impact Disney's guidance for Adjusted EPS?

    No, Disney expects this $438.7 million payment to be excluded when reporting Adjusted EPS, which is a non-GAAP measure. Therefore, it is not expected to impact Disney's previous guidance on fiscal 2025 Adjusted EPS.

  4. When will Disney officially own 100% of Hulu?

    The acquisition of NBCU's remaining 33% interest in Hulu is expected to close on or before July 24, 2025.

04—Continue

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