Hulu buys back AT&T’s stake, leaves Comcast and Disney as owners

Hulu Buys Back At&t’s Stake, Leaves Comcast And Disney As Owners

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.

Hamza Khalid

Hamza Khalid is the Lead Editor at The Jolt Journal. You're more than welcome to follow him on Twitter and follow The Jolt Journal on Twitter and Facebook. If you have any questions, concerns, or need to report something in this article, please send our team an email at [email protected]. This story may be updated at any time if new information surfaces.

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