Back in 2011, Comcast did just about anything to buy NBCUniversal from General Electric. To get the deal approved, they agreed to a long list of government-imposed limitations.
One of the last of these limitations was how much control Comcast could have over Hulu. NBCUniversal was one of the early owners of Hulu, but part of the DOJ approval was a limitation on what Comcast could do with their 30% control over Hulu. Comcast had to agree to give up day-to-day management of Hulu by giving up their board seats. That left FOX with 30% and Disney with 30%, as the other two main companies controlling the day-to-day management of Hulu.