Hulu, now majority controlled by Disney, to buy out AT&T’s stake
  • Sunday, June 16, 2019
  • 80°
News

Hulu, now majority controlled by Disney, to buy out AT&T’s stake

Hulu LLC, the online TV service that’s now majority owned by Walt Disney Co., agreed to buy back AT&T Inc.’s 9.5 percent stake, a deal that valued the whole entity at $15 billion.

The AT&T stake being acquired by Hulu is valued at $1.43 billion, the streaming platform said today.

Hulu, based in Los Angeles, was previously co-owned by a quartet of media giants: Disney, 21st Century Fox Inc., Comcast Corp. and AT&T Inc. When Disney spent $71 billion to acquire Fox’s entertainment businesses in March, it gained majority control. Disney Chief Executive Officer Bob Iger has said he’s interested in acquiring the rest.

“We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future,” Hulu CEO Randy Freer said in today’s statement. AT&T’s WarnerMedia “will remain a valued partner to Hulu for years to come as we offer customers the best of TV, live and on demand, all in one place.”

Comments (0)

By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines.

Having trouble with comments? Learn more here.

Scroll Up