Hulu acquires AT&T’s stake, leaving both Comcast and Disney as owners of the streaming service
There has been a uproar about Disney attempting to acquire the Hulu streaming service, however, this can only be possible if perhaps there were no other stakeholders. Hulu initially had up to four shareholders- Fox, AT&T, Comcast, and Disney, but over the last few months now, two of the four shareowners had sold their shares, with AT&T becoming the latest to sell its, leaving behind both Comcast and Disney.
The telecom finally reached a deal to sell its 9.5 percent stake in Hulu (worth about $1.43 billion) back to the joint venture. It’s not certain exactly how this will shift the balance of power or affect content, but Hulu chief Randy Freer said AT&T’s WarnerMedia would stay a “valued partner” for “years to come.” AT&T said it would use the money to “reduce its debt.”
Rumors have it that the reason why most of the shareowners are somewhat forced to sell their shares is because of Disney who is already in discussion with Hulu towards its acquisition, however, while the attempt has remained a tough one, Disney may just have to keep hoping that Comcast also succumb to its own selfish interest, but it seems like Comcast has chosen to remain stubborn, but what we can’t tell is for how long it will take. Comcast still has its 30% shares intact, approximately above $4 billion, and that is enough to keep Disney waiting for a long while.
Furthermore, while AT&T looks like a weakling after having to share its stakes in Hulu, it may all be for a good reason, after all, considering that T&T’s WarnerMedia is developing its own streaming service, and it’s expected to behave a lot like Hulu, although with an emphasis on in-house properties like Warner Bros., HBO and Turner. At that, a 10 percent stake worth over a billion dollars will definitely help in a way. If you think otherwise, please do share your opinion in the comment box below.