News

Hulu spends $1.43 billion to buy back AT&T stake

0
Hulu spends $1.43 billion to buy back AT&T stake

Founded in 1885, AT&T is said to be America’s largest telecommunication company. Hulu is a popular entertainment streaming service which is widely used by the viewers.

Hulu buys AT&T

As per the sources, Hulu decided to buy its minimum stake in AT&T at $1.43 billion. The two companies had made a deal which valued $15 billion. However, Walt Disney Co holds a 60 % stake in Hulu.

The remaining stake is held by Comcast Corp’s NBC Universal. Besides, AT&T is planning to launch its own streaming in 2019. No more details were disclosed regarding this topic.

On November 2018, the company had stated that they were thinking about selling their stakes to Hulu. Today, the majority of stakes are held by Comcast and Walt Disney. They can only control the shares bought from AT&T.

Hulu spends $1.43 billion to buy back AT&T stake

Hulu to buy back AT&T stake
Source: Axios

During the transaction, AT&T and Hulu stated that no other agreements or third party or government approvals were needed.

Even Hulu’s CEO Randy Feer is looking forward to collaborating with AT&T in the future. He also believes WarnerMedia as one of their valued partners which is solely owned by AT&T.

He furthermore added that the WarmerMedia will deliver movies and series to Hulu in the future as well.

Hulu spends $1.43 billion to buy back AT&T stake, values streaming service at $15 billion

Source: Vox

Rise of Hulu subscribers and its value in the United States

Hulu has been a competitor to Amazon.com’s Prime Video as well as Netflix Inc. Today, it has more than 25 million followers. Since 2016, the value of Hulu has grown around $5.8 billion. As per the reports, Hulu is going to reach 40 to 60 million followers by 2024. Also, Hulu is going to earn more profits by 2023 or 2024 in the United States.

Game Of Thrones Season 8: Who Survived the Crypts and Who Didn’t?

Previous article

Sonic the Hedgehog Leak Reveals Jim Carrey as Robotnik

Next article

You may also like

More in News