Disney is set to pay Comcast $438.7 million to take over Hulu, which will expand its size in the linear and streaming space.

Disney has cast doubt on speculation that the company will wind down its standalone entertainment streamer Hulu anytime soon.

Disney CEO Bob Iger joins CNBC’s ‘Squawk on the Street’ to discuss his company agreeing to pay Comcast $438.7 million to take full control of Hulu, the company’s streaming strategy, and more.

Ticker: Disney to pay almost $439M for Hulu; World Bank sharply downgrades global economic growth forecast to 2.3%

Walt Disney Co. (NYSE: DIS) shares are trading higher Tuesday after the company announced it will pay Comcast $438.7 million to acquire the company's 33% stake in Hulu.

The long and winding road of Hulu, which started out as a joint venture of NBC and Fox, has now concluded with Disney finalizing its buyout of Comcast.

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