AT&T and Hulu today announced an agreement by which AT&T has sold its minority stake in Hulu back to the streaming video joint venture. The transaction valued Hulu at $15 billion, with AT&T’s 9.5% interest valued at $1.43 billion. The transaction did not require any governmental or other third-party approvals and was simultaneously signed and closed.
“We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future. 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,” said Hulu CEO Randy Freer.
The transaction means that The Walt Disney Company now owns 60% of Hulu, NBCUniversal owns 30%, and Hulu LLC owns the above-mentioned 10%.
Hulu is a premium streaming service offering live and on-demand TV and movies, with and without commercials, both in and outside the home. Launched in 2008, Hulu has grown to more than 25 million subscribers in the U.S. and is the only service that gives viewers instant access to current shows from every major U.S. broadcast network; libraries of hit TV series and films; and acclaimed Hulu Originals like Emmy and Golden Globe Award-winning series The Handmaid’s Tale, Emmy Award-nominated The Looming Tower, Shrill, The Act, Marvel’s Runaways and Castle Rock, as well as live news, entertainment and sports from 21st Century Fox, The Walt Disney Company, NBCUniversal, CBS Corporation, The CW, Turner Networks, A+E Networks and Discovery Networks.
Upcoming Hulu Originals include Catch-22 from George Clooney; Four Weddings and a Funeral from Mindy Kaling; Wu-Tang: An American Saga from Brian Grazer and The RZA; Ramy from Jerrod Carmichael and Ramy Youssef; and Little Fires Everywhere from Reese Witherspoon and Kerry Washington.