02:42 PM EDT, 05/06/2024 (MT Newswires) -- (Updates with details throughout)

Walt Disney ( DIS ) and Comcast ( CMCSA ) are looking to rope in an investment bank to independently value Hulu, Reuters reported Monday, citing people familiar with the matter.

Disney ( DIS ) is due to acquire a 33% stake in Hulu from Comcast ( CMCSA ) but both sides have reached contrasting valuations for the business. JPMorgan Chase (JPM) has estimated the value of Hulu on behalf of Disney ( DIS ) at approximately $28.5 billion, which is the floor valuation for Hulu that the two companies agreed upon in their 2019 agreement, according to the report.

Morgan Stanley (MS) has placed a value of over $40 billion on Hulu on behalf of Comcast ( CMCSA ), the report said.

Walt Disney ( DIS ) and Comcast ( CMCSA ) had previously agreed to do an independent appraisal of Hulu if the banks' valuations were more than 10% apart.

Walt Disney ( DIS ) and Comcast ( CMCSA ) did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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