Disney has reached a deal with Comcast that will give the company majority control of Hulu for $5.8 billion.

Everything Coming to Disney's Streaming Service (So Far) 56 IMAGES

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Per Variety , Comcast's NBCUniversal will keep licensing content to Hulu through 2024, while retaining a 33% stake in the streaming provider. Over the next five years, NBCUniversal has the right to either cancel some of its existing content or offer it "on a nonexclusive basis for a reduced licensing fee." Disney can buy out NBCUniversal's remaining 33% share in 2024 for an evaluation price of $27.5 billion.Bob Iger, Disney's chairman, and CEO said, "We are now able to completely integrate Hulu into our direct-to-consumer business and leverage the full power of The Walt Disney Company’s brands and creative engines to make the service even more compelling and a greater value for consumers."While Hulu still has a long way to go before catching up with rivals Amazon and Netflix, the company has seen positive growth over the past few years. Most recently, Variety reported that Disney CFO Christine McCarthy predicts that Hulu will grow to 60 million subscribers by 2024, which is a large increase from its current 26.8 million subscriber base.Disney has been very active in the digital streaming space, announcing its own service called Disney+, which will include the entire Disney motion picture library , and be home to the upcoming Star War series, The Mandalorian. Like many of Hulu's original series, The Mandalorian will release each of its episodes on a weekly basis , instead of opting for Netflix's binge model. Disney+ is set to launch on November 12.

David Griffin still watches DuckTales in his pajamas with a cereal bowl in hand. He's also the TV Editor for IGN. Say hi on Twitter