AT&T sells its minority stake in Hulu

AT&T sold its minority stake in Hulu back to the streaming video joint venture. The transaction valued Hulu at $15 billion, with AT&T’s 9.5% interest valued at $1.43 billion.

AT&T will use proceeds from this transaction, along with additional planned sales of non-core assets, to reduce its debt.

“We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future. WarnerMedia will remain a valued partner to Hulu for years to come as we offer customers the best of TV, live and on demand, all in one place,” said Hulu CEO Randy Freer.