Disney has announced its plans to buy the part of the Hulu streaming service it does not already own from TV giant Comcast for an estimated $8.6bn (£7bn). 

The offer deadline expires on 1 December 2023, kicking off what are expected to be heated negotiations between the two entertainment conglomerates.

If accepted, the deal would value Hulu at $27.5bn (£22.5bn), despite Comcast chief executive Brian Roberts recently stating he believes the streaming service is a “scarce kingmaker asset” worth $60bn (£49bn).

The agreement would give Disney full control over Hulu’s content, allowing the company to integrate it into its own streaming service Disney+ and “further Disney’s streaming objectives,” the company said in a statement. 

Disney gained a controlling interest in Hulu as part of its $71bn (£58bn) acquisition of 21st Century Fox’s film and television assets in 2019. Since then, the company has been increasingly integrating Hulu’s content into its bundled...