Of all the epic meandering dramas to come out of the television industry in recent years, Hulu’s struggle to define itself could rank among the best. Finally, though, we may be nearing an endgame—with implications for rivals that range from Netflix to Apple.

Assuming Disney consummates its proposed purchase of 21st Century Fox, it would end up with 60% of the streaming service. For the first time since its 2007 launch, Hulu would have a controlling owner. That’s not a situation the other owners, Comcast and Time Warner, would be happy with. So either Disney will end up owning all of Hulu, by buying the others out, or it will sell—at a price that could easily surpass $15 billion.