Hulu Reached $1.43 Billion Deal to Buy AT&T's Minority Stake
The streaming service Hulu began the year with four owners, and now there are only two. The company has reached a deal to buy AT&T's minority stake, Deadline reports. AT&T is getting a whopping $1.43 billion in exchange for its 9.5% share.
Hulu is now currently owned by Disney and NBCUniversal, meaning each of the two will be entitled to a portion of AT&T's now-former stake. Disney currently owns a 60% share after its recent Fox acquisition, so there is speculation that the Mouse House will buy Comcast out, ABC News reports. The company has been been pushing streaming efforts lately, including announcing last week that its new service, Disney+, would launch this fall.
Hulu certainly seems to play a role in Disney's plans. Kevin Mayer, chairman of the company's direct-to-consumer unit, said last week that the company was "likely" to offer a bundle to consumers with Hulu and/or ESPN+. The new deal may help that happen.
