AT&T has sold its minority stake in Hulu back to the streamer for a reported $1.43 billion.
- Deadline is reporting that Hulu has purchased AT&T’s stake in the company for $1.43 billion.
- The two companies have reportedly struck a deal in which AT&T will sell it’s minority stake back to the streamer.
- Deadline says, “the transaction valued Hulu at $15 billion, with AT&T’s 9.5% interest valued at $1.43 billion.”
- No governmental or third-party approvals were required to complete the transaction.
Why it matters:
- Axios highlighted how the things will shake out now that this sale is complete saying:
- “The sale gives Disney a 66% stake in the streaming company and 33% to Comcast/NBCUniversal.”
- “The transaction helps AT&T pay down its debt and helps Disney bolster its streaming offerings.”
What they’re saying:
- Hulu CEO Randy Freer: “We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future. 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.”
- During last week’s Investor Day, Disney shared plans for all of their streaming services including Hulu, ESPN+, Hotstar and Disney+.
- Just today, Hulu announced they have renewed the original series, Shrill for a second season. Shrill stars SNL’s Aidy Bryant.
- Another SNL cast member is heading to Hulu. Kate McKinnon will executive produce and star in The Dropout, based on the podcast and true life story of disgraced entrepreneur, Elizabeth Holmes.