Hulu Buys AT&T's Minority Stake in Joint Venture

Date : 04/15/2019 @ 10:55PM
Source : Dow Jones News
Stock : AT&T Inc. (T)
Quote : 32.1  0.02 (0.06%) @ 12:55AM

Hulu Buys AT&T's Minority Stake in Joint Venture

AT&T Inc. (NYSE:T)
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   By Stephen Nakrosis 
 

AT&T Inc. (T) and Hulu on Monday said AT&T has sold its minority stake in Hulu back to the streaming video joint venture.

The transaction valued Hulu at $15 billion, with AT&T's 9.5% interest valued at $1.43 billion, the companies said.

AT&T said it will use proceeds from this transaction, along with additional planned sales of non-core assets, to reduce its debt.

"We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future. WarnerMedia will remain a valued partner to Hulu for years to come as we offer customers the best of TV, live and on demand, all in one place," said Hulu Chief Executive Randy Freer.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

April 15, 2019 17:40 ET (21:40 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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