AT&T Sheds Its Stake In Hulu For $1.43 Billion, Nearly Tripling Investment

The transaction values the streaming service, which competes with Netflix and Amazon, at $15 billion.

The telecommunications giant is loaded down with $171 billion in debt, following its $85 billion acquisition of Time Warner in June of 2018. AT&T has been looking for ways to shed non-core assets and reduce its debt load. The sale of AT&T's 9.5% stake in Hulu won't impact the streaming service's long-term agreements to carry WarnerMedia's networks on its Hulu+ Live TV service, which include TBS, Cartoon Network and TNT.

"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,” Hulu CEO Randy Freer said in a statement. The Walt Disney Co. gained a controlling interest in Hulu with its acquisition of most of 21st Century Fox's film and television assets. It shares an ownership stake with Comcast's NBCUniversal.The decade-old Hulu service has 25 million subscribers, and is expected to lose about $1.5 billion this year. Disney expects it to break even by 2024, as it expands to new markets and grows its subscriber base to an estimated 40 to 60 million subscribers.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

AT&T sells Hulu stake, valuing the video streaming company at $15 billionHulu bought back AT&T's 9.5 percent stake in the entity for $1.43 billion, valuing the streaming company at $15 billion.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

AT&T Sheds Its Stake In Hulu For $1.43 Billion, Nearly Tripling InvestmentHulu is buying back AT&T's minority stake in the streaming service for $1.43 billion, the two companies said Monday.
Fonte: Forbes - 🏆 394. / 53 Consulte Mais informação »

Stocks to open higher | AT&T sells Hulu stake | Notre Dame fire extinguishedStock futures are pointing to a strong Wall Street open, after losses by the major averages Monday.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »