Fox Networks Group COO Randy Freer was named CEO on October 24, 2017. Disney majority ownership (2019–present) In March 2019, Disney acquired 21st Century Fox, giving it a 60% majority stake in Hulu. AT&T (which acquired Time Warner in 2018) sold back its roughly 10% stake the following month leaving Disney with 67% and Comcast with 33%. Comcast, the only other shareholder, announced on May 14, 2019, that it had agreed to cede its control to Disney, and reached an agreement for Disney to purchase its 33% stake in the company as early as 2024. On May 14, 2019, Comcast relinquished its control in Hulu to Disney effective immediately. As a result, the streaming service became a division of Walt Disney Direct-to-Consumer & International (DTCI) with Comcast effectively becoming a silent partner. Under the agreement, Comcast's 33% stake can be sold to Disney at fair market value as early as 2024. The fair market value will be determined at that time, but Disney guaranteed a minimum valuation of the entire company at $27.5 billion (valuing the Comcast stake as worth at least $9.075 billion). Randy Freer would report to Disney executive Kevin Mayer. In the wake of the deal, Disney CEO Bob Iger explained that direct integration of Hulu with Disney's studios would allow increased investments in original content, which would in turn allow it to "make the service even more compelling and a greater value for consumers". Disney stated that its control of Hulu was the third major component of its direct-to-consumer strategy, complementing its sports streaming service ESPN+, and its then-forthcoming Disney+. Hulu would be oriented towards "general" entertainment and content targeting mature audiences. NBCUniversal will continue to license its content to the service through at least 2024, but it will have the option to begin transitioning its exclusivity deals with Hulu to non-exclusive terms beginning in 2020, and to end other content deals beginning in 2022. On July 31, 2019, Disney reorganized Hulu's reporting structure, placing Hulu's Scripted Originals team under Walt Disney Television. Under the new structure, Hulu's SVP of Original Scripted Content would report directly to the chairman of Disney Television Studios and ABC Entertainment. As of November 2019, FX and Fox Searchlight were assigned to supply Hulu with content. In January 2020, Disney eliminated the role of Hulu CEO, with its top executives to report directly to DTCI and Walt Disney Television. On January