Monday, April 15, 2019

Hulu Buys Back Stake From AT&T

Los Angeles-based streaming television service Hulu and AT&T said on Monday that Hulu has acquired AT&T's 9.5 percent stake in the company, worth $1.43 billion. AT&T and Hulu said the deal values Hulu at $15 billion. Hulu did not say what the source of financing was for the deal. AT&T had been a shareholder in Hulu for the past two years as a minority share owner, via its acquisition of Time Warner. The announcement of the deal between Hulu and AT&T were not a surprise; AT&T has reportedly been looking to sell its stake in Hulu since at least November of 2018.

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