AT&T sells back stake in Hulu, leaving Disney and Comcast as remaining owners

AT&T sells back stake in Hulu, leaving Disney and Comcast as remaining owners

5 years ago
Anonymous $9jpehmcKty

https://www.cnet.com/news/at-t-sells-back-stake-in-hulu-leaving-disney-and-comcast-as-remaining-owners/

Hulu kicked off this year with four parent companies and it has quickly whittled down its parents to just two. Previously, AT&T held 10% through its takeover of Time Warner, now called Warner Media, while Disney, 21st Century Fox and Comcast each owned 30%.  But with Disney combining with 21st Century Fox earlier this year in a $71.3 billion deal, and with AT&T now selling back its stake, Hulu's owners are reduced to Comcast and Disney, the latter of which holds a controlling share. 

The Hulu news comes days after Disney outlined an aggressive plan for streaming services like Hulu and a forthcoming Netflix-like offer called Disney Plus. Disney presented Hulu as a key companion service to Disney Plus, even noting that it planned to bundle the two offers at a discount. But Disney noted throughout its presentation that it couldn't unilaterally decide Hulu's future even though it already holds 60% control.  

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