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Time Warner buys 10% of Hulu

C

crackedscreen

Time Warner shares are up nearly 3% in pre-market trading after it disclosed that it has joined Disney, Fox, and Comcast as an equity owner of Hulu, and beat Wall Street expectations for Q2 earnings.

The purchase of 10% of Hulu “underscores Time Warner’s commitment to supporting and developing new platforms for the delivery of high-quality content and great consumer experiences to audiences around the globe” CEO Jeff Bewkes says.

Time Warner paid $583 million for its 10% stake in Hulu, an arrangement that “fits our strategy like a glove,” CEO Jeff Bewkes told analysts in a call to discuss Q2 earnings.

Hulu’s planned live streaming service, due early 2017, will include Turner’s TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies.
Click to expand...

http://deadline.com/2016/08/time-warner-buys-hulu-stake-strong-q2-earnings-1201797759/
http://deadline.com/2016/08/jeff-be...oin-other-virtual-pay-tv-services-1201797776/
 
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