Hulu announced it acquired the WarnerMedia’s (AT&T) 10% stake in the streaming platform. The transaction was valued in USD 1,430 million. With the acquisition, Hulu becomes the owner of Disney (which concentrates a 60% after formalizing the merger with Fox) and Comcast / NBCUniversal (30%). The sale of AT&T shares made Hulu to be valued at USD 15 billion.
Initially, it has transcended a Disney’s interest in buying AT&T’s participation in Hulu, but it was finally acquired by the own OTT. These share’s distribution will be under Disney and Comcast’s responsibility, new owners of the streaming platform. AT&T explained that the transaction’s surplus value will be used to reduce its debt. The company is also preparing the launch of its new OTT, scheduled for this year’s last quarter.
‘We want to thank AT&T for its support and investment over the past two years, and we look forward to collaborate in the future’, said Randy Freer, CEO of Hulu, adding that WarnerMedia ‘will continue to be a Hulu’s valuable partner in the coming years, as we offer our customers the best of on demand and live TV, all in one place’. According to the report published in January, Hulu added 8 million subscribers in 2018 and closed the year with more than 25 million customers between its VOD and Live TV offers, which includes more than 60 live channels, and recorded one million subscribers one year after its was launched.