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AT&T Sells Stake in Hulu

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4/15/2019
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Dallas -- AT&T (NYSE:T) and Hulu today announced an agreement by which 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 transaction did not require any governmental or other third-party approvals and was simultaneously signed and closed.

“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 CEO Randy Freer.

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

AT&T
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