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

Just Posted

COLUMN: Looking back to a time of optimism

The first lunar landing 50 years ago was a time to celebrate dreams and accomplishments

Okanagan-Shuswap weather: Showers to start weekend, sun returning soon

Environment Canada forecasts rain on Saturday and the heat returning next week

UPDATE: Penticton resident’s dog found safe

Nicholas Bozak thanks the public for finding his 17 month old mastiff chow

Survivorship Dragon Boat Team wins in Vernon

Team takes top spot in A division at festival

RDOS contributes funds to arts centre workshop

South Okanagan Performing Arts Centre Society wants input into proposed facility

July showers wash out half of the Okanagan’s cherry crop

Cherry growers say this is the worst season they’ve seen in decades

Canadian high school science courses behind on climate change, says UBC study

Researchers found performance on key areas varies by province and territory

Six inducted into BC Hockey Hall of Fame

The 26th ceremony in Penticton welcomed powerful figures both from on and off the ice

RCMP investigate two shootings in the Lower Mainland

Incidents happened in Surrey, with a victim being treated at Langley Memorial Hospital

CRA program to help poor file taxes yields noticeable bump in people helped

Extra money allows volunteer-driven clinics to operate year-round

Okanagan e-scooter company foils robberies

OGO Scooters staff helped return stolen property three times in 1st week of operations in Kelowna

Olympian brings women empowerment in sports to the Okanagan

Two-time medalist Natalie Spooner joined the Girls Rock the Rink event in Kelowna

Okanagan school district monitoring McCurdy supportive housing plan debate

Top priority for board of education is to maintain safety integrity of local schools

Most Read