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 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.
