AT&T could sell its 10% stake in Hulu

ATT-Hulu

In a meeting with analysts, AT&T’s CFO John Stephens said the company is considering selling off its 10% stake in Hulu, the video streaming service, in order to reduce debt.
AT&T owns that stake through WarnerMedia (formerly Time Warner) and according to recent estimates, it could be worth USD 930 million. This is a non-strategic stake since WarnerMedia plans to launch its own OTT service in 2019 and also operates DirecTV Now.
Currently, The Walt Disney Company has a 30% stake in Hulu and will have a majority share (60%) once it finishes the acquisition of 21st Century Fox assets. For its part, Comcast (through NBCUniversal) has the remaining 30%.
WarnerMedia’s new OTT service will launch into beta in Q419 and will have three tiers of service. The entry-level package will focus on movies. Then there will be a Premium service with original programming and “blockbusters”. The third plan will include the first two tiers and will add WarnerMedia library and licensed content, according to Techcrunch.