Hulu buys back AT&T’s 9.5 percent stake
Written by Fox News on April 15, 2019
FILE PHOTO: The AT&T logo is pictured during the Forbes Forum 2017 in Mexico City, Mexico, September 18, 2017. REUTERS/Edgard Garrido/File Photo
April 15, 2019
(Reuters) – Streaming service company Hulu is buying back wireless carrier AT&T Inc’s 9.5 percent stake in the company in a deal valued at $1.43 billion, the two companies said on Monday.
The transaction valued Hulu at $15 billion. AT&T said it will use proceeds http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20190415:nBw2r0mxza from the deal to cut down its debt.
(Reporting by Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur)