Newspaper article International New York Times

Time Warner Pays Cash for 10% Hulu Stake

Newspaper article International New York Times

Time Warner Pays Cash for 10% Hulu Stake

Article excerpt

The deal, which will go into effect early next year, is part of a push by the company to expand viewing options for its customers.

Time Warner has announced that it has joined forces with several rival media companies to chart a new future for the streaming television service Hulu, acquiring a 10 percent stake in it and committing programming for its new live TV offering.

Time Warner paid $583 million in cash for the stake, valuing Hulu at $5.8 billion, an executive said during a conference call on Wednesday. Hulu's other corporate owners are 21st Century Fox, Comcast and the Walt Disney Company.

The development comes as Hulu, which got its start primarily as a rerun service for broadcast shows, prepares a new offering of both live and recorded programming from a streamlined bundle of broadcast and cable channels. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.