AT&T Sells Minority Stake in Hulu Back to Streamer

AT&T has sold its minority stake in Hulu back to the streamer for a reported $1.43 billion.

What’s happening:

  • 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.”

ICYMI: