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With Disney in Control, Hulu Buys Out AT&T for $1.4 Billion
Hulu LLC, an online-streaming venture backed by the biggest companies in entertainment, bought out AT&T Inc.’s 9.5 percent stake in a deal worth about $1.43 billion. The accord, which values the whole entity at $15 billion, leaves the business with just a pair of owners: Walt Disney Co., which has majority control, and Comcast Corp.
Hulu, based in Los Angeles, was previously co-owned by Disney, 21st Century Fox Inc., Comcast and AT&T. When Disney spent $71 billion to acquire Fox’s entertainment businesses in March, it gained majority control. Disney Chief Executive Officer Bob Iger has said he may be interested in acquiring the rest.
Disney and Comcast -- the remaining owners -- will now have to decide how they want to account for the AT&T transaction, according to a Hulu spokeswoman. The two parties have time to figure out how they want to apportion that 9.5 percent stake
https://www.yahoo.com/finance/news/hulu-now-majority-controlled-disney-212245301.html
Hulu LLC, an online-streaming venture backed by the biggest companies in entertainment, bought out AT&T Inc.’s 9.5 percent stake in a deal worth about $1.43 billion. The accord, which values the whole entity at $15 billion, leaves the business with just a pair of owners: Walt Disney Co., which has majority control, and Comcast Corp.
Hulu, based in Los Angeles, was previously co-owned by Disney, 21st Century Fox Inc., Comcast and AT&T. When Disney spent $71 billion to acquire Fox’s entertainment businesses in March, it gained majority control. Disney Chief Executive Officer Bob Iger has said he may be interested in acquiring the rest.
Disney and Comcast -- the remaining owners -- will now have to decide how they want to account for the AT&T transaction, according to a Hulu spokeswoman. The two parties have time to figure out how they want to apportion that 9.5 percent stake
https://www.yahoo.com/finance/news/hulu-now-majority-controlled-disney-212245301.html