Hulu has announced that Disney is to invest in the American online video company. Disney will join NBC Universal and News Corps as a joint venture partner and equity owner of Hulu.

The agreement - rumoured to be between a 25% and 30% stake - will mean Hulu's programming line-up will get some of Disney's current and library series and library feature films.

Full-length episodes of Lost, Grey's Anatomy, Desperate Housewives, Private Practice, Ugly Betty, Scrubs, Greek, Hope and Faith, Less Than Perfect, Wizards of Waverly Place, Phineas and Ferb, Who Wants To Be A Millionaire, General Hospital, The View and The Secret Life of the American Teenager will soon be streamed on Hulu on an ad-supported basis.

"From our landmark iTunes deal to our pioneering decision to stream ad supported shows on our 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", said Robert A. Iger, president and CEO, The Walt Disney Company.

"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".