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Randy Freer. Photo by Dia Dipasupil/Getty Images for Hulu

Hulu CEO Randy Freer is exiting the company, as Disney looks to further consolidate the streaming service into its own streaming department, Disney said in a statement on Friday.

Why it matters: The move is part of a greater integration of 21st Century Fox assets into the Walt Disney Company. Disney purchased most of Fox's entertainment assets last year for $71 billion. In a statement, Disney said that Hulu executives will now report directly into Disney's direct-to-consumer department business leads.

What's they're saying: "With the successful launch of Disney+, we are now focused on the benefits of scale within and across our portfolio of DTC businesses," said Kevin Mayer, chairman, direct-to-consumer & international, The Walt Disney Company.

  • "Further integrating the immensely talented Hulu team into our organization will allow us to more effectively and efficiently deploy resources, rapidly grow our presence outside the U.S. and continue to relentlessly innovate," Mayer said.
  • Hulu has established itself as a leading choice for consumers looking for the best TV service available today, and I am confident Hulu will thrive inside Disney under DTCI’s leadership and resources," Freer said.

What's next: Freer will remain in his role for the next several weeks to help with the integration, per Disney.

Go deeper:

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Trump grants flurry of last-minute pardons

Photo: Jabin Botsford/The Washington Post via Getty

President Trump issued 73 pardons and commuted the sentences of 70 individuals early Wednesday, 11 hours from leaving office.

Why it matters: It's a last-minute gift to some of the president's loyalists and an evident use of executive power with only hours left of his presidency. Axios reported in December that Trump planned to grant pardons to "every person who ever talked to me."

2 hours ago - Politics & Policy

Trump revokes ethics order barring former aides from lobbying

Photo: Spencer Platt via Getty

Shortly after pardoning members of Congress and lobbyists convicted on corruption charges, President Trump revoked an executive order barring former officials from lobbying for five years after leaving his administration.

Why it matters: The order, which was signed eight days after he took office, was an attempt to fulfill his campaign promise to "drain the swamp."

  • But with less than 12 hours left in office, Trump has now removed those limitations on his own aides.

Trump pardons former GOP fundraiser Elliott Broidy

President Trump has pardoned Elliott Broidy, a former top Republican fundraiser who pleaded guilty late last year to conspiring to violate foreign lobbying laws as part of a campaign to sway the administration on behalf of Chinese and Malaysian interests.

Why it matters: Broidy was a deputy finance chair for the Republican National Committee early in Trump’s presidency, and attempted to leverage his influence in the Trump administration on behalf of his clients. The president's decision to pardon Broidy represents one last favor for a prominent political ally.