Disney had estimated the value to be around $27.5 billion, while Comcast was looking for at least $40 billion. If Comcast’s side had won out, Disney would be looking at an additional payment of about $5 billion.

Disney will pay Comcast's NBCUniversal nearly $439 million for its stake in Hulu, taking full control of the streaming service.

“There is still enough linear television subscribers to generate a significant amount of revenue in advertising and in subscription fees,” Iger continued, suggesting that “we program them seamlessly, ...