Janhvi Bhojwani | CNBC
Randall Stephenson, CEO of AT&T, talking on the Enterprise Roundtable CEO Innovation Summit in Washington, DC. on Dec. sixth, 2018.
Hulu has repurchased AT&T’s 9.5 p.c stake within the enterprise for $1.43 billion, giving the streaming firm a valuation of $15 billion.
The transaction, introduced on Monday, signifies that Hulu continues to realize recognition, whilst the marketplace for over-the-top content material turns into more and more crowded. The valuation is a giant step up from November, when Disney mentioned in a regulatory submitting that the corporate was value $9.26 billion.
Hulu is owned by a gaggle of media corporations, together with CNBC mum or dad Comcast and Disney, which now controls Fox.
AT&T mentioned it would use proceeds of the transaction to scale back its debt. AT&T bought Time Warner final 12 months, giving the corporate possession of HBO, which has its personal streaming choices.
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