Time Warner Buys Hulu Stake

By on Aug, 3 2016 with Comments 0

HuluTime Warner has acquired a 10% stake in Hulu, known as a repository of recently-aired network television programming. The majority of Hulu is owned by Disney, 21st Century Fox and Comcast.

The three will reduce their ownership stakes under the new arrangement, reports MediaPost.

Time Warner is paying $583 million, reports Variety.

The deal comes as Hulu prepares to launch a streaming service in 2017, which could attract those either cutting the cord or millennials who don’t have cable subscriptions.

About The Author: Leslie Stimson has been a reporter for 35+ years, starting in radio news. She’s spent the last 20 years reporting for radio trades.

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