10:43 AM EDT, 08/07/2024 (MT Newswires) -- Walt Disney ( DIS ) said Wednesday it may have to pay an additional $5 billion to Comcast's ( CMCSA ) NBC Universal unit for its 33% stake in Hulu.

An arbitration process that began in May will determine how much, if any, additional money Disney ( DIS ) must pay NBC Universal for its share of the streaming service, Disney ( DIS ) said in its quarterly earnings report.

According to the entertainment giant, Disney ( DIS ) said its appraiser during the initial arbitration phase valued Hulu at at least $27.5 billion, while NBC's appraiser arrived at a valuation "substantially in excess" of its estimate.

Once arbitration is complete, the final equity fair value will account for the valuation of a third appraiser, Disney ( DIS ) said.

If the that appraiser's valuation is equal to Disney's ( DIS ) valuation, it wouldn't be required to pay NBC Universal any more money. If the appraiser's determination is consistent with the NBC Universal's valuation, Disney ( DIS ) could be required to pay an additional $5 billion. If the appraiser's equity fair value determination falls between those of Disney's ( DIS ) and NBC Universal's, Disney ( DIS ) would pay between nothing and $5 billion, according to Disney ( DIS ).

Comcast ( CMCSA ) and NBC Universal did not immediately respond to MT Newswires requests for comment.

Meanwhile, Disney ( DIS ) disclosed it acquired an incremental 5% interest in Epic Games in April for $1 billion before acquiring an additional 2% stake in the videogame maker in July for $500 million, bringing Disney's ( DIS ) total interest in the company to about 8%.

Price: 88.24, Change: -1.73, Percent Change: -1.92