Disney in talks with AT&T to buy WarnerMedia's Hulu stake: Variety
Reuters
Published Feb 27, 2019 05:20PM ET
Disney in talks with AT&T to buy WarnerMedia's Hulu stake: Variety
(Reuters) - Walt Disney (NYSE:DIS) Co is actively pursuing the purchase of WarnerMedia's nearly 10 percent stake in Hulu, entertainment business news portal Variety reported on Wednesday, citing sources.
Disney, Comcast (NASDAQ:CMCSA) and Twenty-First Century Fox Inc (NASDAQ:FOX) each had a 30 percent stake in the video streaming service Hulu, as of September 2018.
Time Warner, renamed WarnerMedia after its acquisition by telecom company AT&T Inc (NYSE:T), holds a 10 percent passive stake in Hulu.
In November last year, AT&T committed to cutting its heavy debt load in 2019 through a variety of measures, including a review of all of its non-core assets such as its stake in Hulu for a possible sale.
Disney, Hulu and AT&T did not immediately respond to Reuters' request for comment.
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Written By: Reuters
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