Disney will pay Comcast $438.7 million for a stake in Hulu, writes Lilian Rizzo for CNBC. This marks the end of a years-long valuation process that started

Disney had estimated the value to be around $27.5 billion, while Comcast was looking for at least $40 billion. If Comcast’s side had won out, Disney would be looking at an additional payment of about $5 billion.

Disney closed its deal with Comcast to buy out NBCUniversal's one-third stake in Hulu -- paying much less than NBCU sought.