hulu-tv-spread

Time Warner has confirmed that it is buying a 10% stake in online TV service Hulu, after lengthy talks with the loss-making service, reports Variety. It has been reported that the stake is costing the company around $580M, valuing Hulu at $5.8B.

The deal means Time Warner will be partners with existing owners Disney, 21st Century Fox and Comcast’s NBCUniversal, and that Time Warner’s channels like Turner and CNN will be part of a new pay TV service Hulu wants to launch next year.

Variety reports that the cash injection will help Hulu compete with market leader Netflix.

Hulu, with the cash infusion and Time Warner’s strategic backing, now has additional firepower to challenge subscription VOD leader Netflix in acquiring original shows, cutting licensing deals and expanding its service.

FTC: We use income earning auto affiliate links. More.


Check out 9to5Mac on YouTube for more Apple news:

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

About the Author

Ben Lovejoy

Ben Lovejoy is a British technology writer and EU Editor for 9to5Mac. He’s known for his op-eds and diary pieces, exploring his experience of Apple products over time, for a more rounded review. He also writes fiction, with two technothriller novels, a couple of SF shorts and a rom-com!

Ben Lovejoy's favorite gear