This June 24, 2015, file photo shows the Hulu Apple TV app icon in South Orange, N.J. There are more TV streaming services than ever before and more people are opting to drop cable in favor of streaming services. But monthly subscriptions can add up fast. A little research on which services are best for you can help save big bucks.(AP Photo/Dan Goodman, File)

Disney, Comcast now Hulu’s only owners as AT&T exits

AT&T sold its stake for $1.43 billion, valuing the unprofitable Hulu at $15 billion

AT&T has sold its 9.5% share in Hulu back to the streaming TV company, leaving Disney and Comcast as its owners.

Hulu said Monday that AT&T sold its stake for $1.43 billion, valuing the unprofitable Hulu at $15 billion.

READ MORE: Disney will launch streaming service late this year

The Walt Disney Co. wound up with a 60% share after its purchase of much of 21st Century Fox, which included Fox’s Hulu stake. NBCUniversal parent Comcast Corp. owns 30%. There is speculation that Comcast will sell too, leaving Disney the sole owner and perhaps making Hulu’s content much more Disney-centric.

Disney may bundle Hulu with its upcoming kids-focused streaming service, Disney Plus, and its sports service, ESPN Plus, executives said last week.

Hulu’s $6-a-month service lets users watch original series and network TV episodes after they air on TV. It has a newer live-TV service that costs $45 a month.

AT&T came by its Hulu stake after buying Time Warner, which invested $583 million in Hulu in 2016. Now the company, known as WarnerMedia, is launching its own streaming service later this year, which will focus on HBO and other shows and movies owned by the company.

NBCUniversal, too, will debut a streaming service in 2020.

The fragmentation of streaming services may mean higher costs for consumers as they hunt down all their favourite shows and movies across different services.

Hulu CEO Randy Freer said in a statement that AT&T’s WarnerMedia, which provides content to Hulu, will remain “a valued partner.”

Tali Arbel, The Associated Press

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Farm life: lessons learned while working from home

It’s important to slow down, be kind to one another, and enjoy the little moments in life

SD6 expects 50 to 60 per cent of students back on June 1 on a part time basis

School District No. 6, which includes the Kimberley Zone, is going ahead… Continue reading

Outdoors Open House for Central and Watkins project in Kimberley

A socially distant opportunity to find out more about the townhome project

Angel Flight takes to the skies once more

Angel Flight East Kootenay is once again offering free flights to Kelowna for medical appointments

East Kootenay snow packs still moderately high

EK snow packs at 114 per cent of normal

BC Ferries losing up to $1.5 million each day as pandemic tanks ridership

The company does not qualify for the wage subsidy

Twenty-nine of Canada’s 48 national parks to reopen to day-use visitors June 1

All national parks, historic sites and marine conservation areas have been closed for weeks

JK Rowling publishes first chapters of new story online

Book will be a fairy tale for kids and benefit those particularly affected by the pandemic

BC Corrections to expand list of eligible offenders for early release during pandemic

Non-violent offenders are being considered for early release through risk assessment process

Introducing the West Coast Traveller: A voyage of the mind

Top armchair travel content for Alaska, Yukon, BC, Alberta, Washington, Oregon and California!

Fraser Valley driver featured on ‘Highway Thru Hell’ TV show dies

Monkhouse died Sunday night of a heartattack, Jamie Davis towing confirmed

B.C. visitor centres get help with COVID-19 prevention measures

Destination B.C. gearing up for local, in-province tourism

Most Read