Home / Business / AT&T bows out of Hulu; will Comcast be next to sell its stake?

AT&T bows out of Hulu; will Comcast be next to sell its stake?



NEW YORK – AT&T has sold its 9.5% share in Hulu back to the streaming TV company, leaving Disney and Comcast as its owners.

Hulu said Monday that AT&T

                            
                            
                                  
      
      
      
      
      
      
      
                                  
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sold its stake for $ 1.43 trillion, valuing the unprofitable Hulu at $ 15 trillion.

                            
                            
                                  
      
      
      
      
      
      
      
                                  
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wound up with a 60% share after its purchase of much of 21st Century Fox, which included Fox's Hulu stake. NBCUniversal parent Comcast Corp.

                            
                            
                                  
      
      
      
      
      
      
      
                                  
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owns 30%. Disney may bundle Hulu with its up-to-date kids-focused streaming service, Disney Plus, and its sports service, ESPN. Plus, executives said last week

Hulu's $ 6-a-month service lets users watch original series and network TV episodes after they air on TV. It has a newer live TV service that costs $ 45 a month.

AT&T came to Hulu after buying Time Warner, which invested $ 583 million in Hulu in 2016. Now the company, known as WarnerMedia, is launching its own streaming service later this year, which will focus on HBO and other shows and movies owned by the company

NBCUniversal, too, will debut a streaming service in 2020.

The fragmentation of streaming services may mean higher costs for consumers than they hunt down all their favorite shows and movies across different services.

Hulu CEO Randy Freer said in a statement that AT & T's WarnerMedia, which provides content to Hulu, will remain “a valued partner.”


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