You may have seen this coming, but Disney has officially agreed to buy Comcast’s 33% stake in Hulu for $8.61B by Dec. 1.

Well, maybe. That figure may change following an appraisal process to determine Hulu’s value, last set at $27.5B in 2019, which Comcast CEO Brian Roberts believes is too low.

Regardless, Disney is poised to take full control of the platform, growing its streaming empire.

Then what?

Well, Disney has controlled Hulu since 2019, and customers can already purchase a Disney+/Hulu Bundle for ~$10/month, or add ESPN+ for ~$15/month. So, pretty much everyone expected this to happen.

In May, Disney CEO Bob Iger announced plans to merge the platforms into a single app, touting the “exciting” advertising potential and subscriber appeal of getting Disney+ content (including its Marvel and Star Wars properties) along with “general entertainment.”

• Such bundles help with churn — especially among users who subscribe for specific shows, then cancel.
• Experts believe Disney will launch Hulu globally after the deal is complete, something it hasn’t done yet, perhaps to keep Hulu’s value down.
• Iger also hinted that Disney may sell its ABC network and other linear TV properties, while doubling down on streaming.

We don’t know what else Disney has planned; all it’s said is that the purchase will “further” its streaming objectives — but those seem to be a prime concern for Iger.

(One reason it’s a priority: When Iger returned as CEO last year, Disney was losing $1.5B/quarter on streaming. That number’s now down to $512m.)

Meanwhile…

… Comcast’s Roberts — who, as mentioned, is hoping for a bigger payout — has said the company will return its windfall to shareholders.

And more broadly, this is just what’s happening in the streaming world. HBO combined HBO Max and Discovery+ into Max, and Paramount Global will merge Paramount+ and Showtime.

As for us? Well, given that nearly every streaming service raised its prices this year, we’ve got a TV-watching future ahead of us that looks like bundling and accepting ads to save money, which is basically regular TV, so… wow, a full circle.

Filling the ever-gaping maw of the internet’s content machine means us mediafolk get seduced into writing about the most asinine “holidays” possible.

Not only are all of these holidays actually recognized by someone or something, they all fall in the first half of this month:

• National Pizza with the Works Except Anchovies Day
• National Spicy Hermit Cookie Day
• National Clean Out Your Refrigerator Day
• National Broadcast Traffic Professional’s Day
• National Canine Lymphoma Awareness Day
• National Bittersweet Chocolate with Almonds Day

Alas, it’s with the deepest discontent that we fall victim to today’s National Sandwich Day.

In our defense…

There’s a sensible reason for this observance: this November marks the 305th birthday of British nobleman John Montagu, the fourth Earl of Sandwich — and namesake of the sandwich.

And there are legit business reasons to fete sandwiches right now:

• The munching icon remains the dominant food of the working world — a whopping 95% of workers claim to eat at least one sandwich per week.
• McDonald’s announced this week that its McCrispy sandwich has grown into its own $1B global brand.
• But $1B is just a drop in the bucket — we’re only weeks removed from private equity firm Roark Capital dropping $9.6B on sandwich king Subway (the same company that spent a rumored $3B to acquire rival Jimmy John’s a few years prior).
• The rest of the sub market also has some zing: Potbelly’s pandemic recovery plan includes 2k new locations, and Jersey Mike’s has expanded to all 50 states.
• We also just covered the $2.4B (and fast-growing) US market for breakfast sandwiches.

It’s a great time to sling sandwiches, and reminds us to never forget the true meaning of this holiday: making tons and tons of cash.

BTW: Maybe it can also be about togetherness? The harsh origins of the 6-foot sub suggest the sandwich community needs healing.

• The first novelty sub on record weighed 22 pounds, sold for the modern equivalent of $285 — and tore apart a family for over three decades, per Tasting Table.