Disney has joined the team at Hulu.com – a leading online video aggregator.

The Walt Disney Company has agreed to become a joint venture partner and equity owner of Hulu, a leading online aggregator of video content.

Disney will buy a 30% stake in Hulu.com, bringing popular TV shows such as Lost and Grey’s Anatomy to the video website founded by NBC Universal and News Corporation.

Through a subsidiary of ABC Enterprises Inc., Disney will join these and Providence Equity Partners to provide programming for Hulu.com, enhancing its current schedule supplied by nearly 150 leading content companies.

Through the agreement, users in the United States will have access to Disney’s most popular current and library primetime series and library feature films through Hulu.com, and 35 destination sites online, including AOL, IMDb, MSN, MySpace and Yahoo! In particular, full-length episodes of hit current and library programs like Lost, Grey’s Anatomy, Desperate Housewives, Private Practice, Ugly Betty, Scrubs and Who Wants To Be a Millionaire will soon be streamed on Hulu on an ad-supported basis.

Robert A. Iger, President and CEO, The Walt Disney Company, said: “From our landmark iTunes deal to our pioneering decision to stream ad supported shows on our ABC.com player, Disney has sought to meet the constantly evolving viewing habits of our consumers, and today’s Hulu announcement is the next important step in that ongoing journey.

“Disney and Hulu share a focus on delivering the highest-quality entertainment experience and we look forward to working with Hulu to build value for our consumers, our brands and our shareholders.”

“We’re honored to welcome the Disney team in our mission to help people find and enjoy the world’s premium content, when, where and how they want it,” said Jason Kilar, CEO of Hulu. “With the addition of shows like Lost, Desperate Housewives, Grey’s Anatomy and many more to Hulu, we continue to aspire to deliver a service that users, advertisers and content owners unabashedly love.”

The transaction is subject to customary closing conditions, including regulatory review. As an equity partner, Disney will have three seats on the Hulu Board that will be held by Mr. Iger; Anne Sweeney, Co-Chair, Disney Media Networks and President, Disney/ABC Television Group; and Kevin Mayer, Executive Vice President, Corporate Strategy, Business Development & Technology. All other current directors from News Corp, NBC Universal and Providence will remain on the Hulu board.

Disney shares rose 4.2% yesterday (30 April 2009) to $21.90 (£15.00) on the New York Stock Exchange.