Hulu reached a deal with AT&T to purchase back its 9.5 percent stake in the company, worth about $1.43 billion. At this time, it’s uncertain how this deal with affect content or power of control, but Hulu chief Randy Freer said AT&T’s WarnerMedia would continue to be a “valued partner” for “years to come.” AT&T said that it will use the funds to “reduce its debt.”
The streaming services’ ownership is down to two companies, Disney and Comcast. It’s not certain how AT&T being out of picture will affect the platform. Disney owns 60 percent of Hulu while Comcast owns 30 percent. With AT&T out, the bundles and content strategies on the platform could vary moving forward.
AT&T being out shouldn’t come as a surprise. WarnerMedia has been working on its own streaming service, which is expected to be similar to Hulu. Having a financial stake in a competing service could be problematic for AT&T. Now that the company is out of Hulu, it can focus on its own streaming service plans.