AT&T has sold its 9.5 percent minority stake in Hulu back to the US online TV service for USD 1.43 billion. The transaction values Hulu at USD 15 billion. The transaction will not require any approval, which means it was signed and closed. Hulu CEO Randy Freer said the company looked forward to collaborating still with AT&T in the future and that WarnerMedia will remain a "valued partner" for years to come. AT&T meanwhile said it will use the money raised from the sale, along with other planned sales of non-core assets, to reduce its debt.
CNBC noted that the valuation in November was USD 9.26 billion, according to a filing from Disney. Hulu is owned by a number of companies: Comcast had a 30 percent share before the AT&T transaction and Disney owns 60 percent, including 30 percent taken with its recent acquisition of Fox.
