---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-231673"
form_type: "8-K"
ticker: "DIS"
cik: "0001744489"
company_name: "Walt Disney Co"
filed_at: "2023-09-08T23:59:59+00:00"
generated_at: "2026-06-10T22:15:51.140272+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Disney and NBCU amend Hulu put/call; floor value set at $27.5B

## Summary
- NBCU can require Disney to buy its 33% Hulu stake from Nov 2023 at greater of fair value or $27.5B floor.
- Disney also has option to require NBCU to sell its Hulu interest under the same valuation terms.
- If exercised in Nov 2023, Hulu equity fair value will be assessed as of Sept 30, 2023.
- Disagreements on fair value trigger investment bank appraisals; if needed, a third firm decides and the two closest values are averaged.

## SEC filing metadata
- accession: 0001193125-23-231673
- form_type: 8-K
- ticker: DIS
- cik: 0001744489
- company_name: Walt Disney Co
- filed_at: 2023-09-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1744489/000119312523231673/0001193125-23-231673-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1744489/000119312523231673/d541232d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-231673
- JSON: https://secwatch.observer/filing/0001193125-23-231673.json
- Plain text: https://secwatch.observer/filing/0001193125-23-231673.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.