Time Warner (TWX) Buys A 10% Stake In This Company
Author By Sophia VidaPosted on Time Warner just became the fourth major media company after purchasing a 10% stake in Hulu.
The company announced this week that it would pay $583 million for its minority interest in Hulu.
This is a pretty big deal as Hulu, the 9-year-old Santa Monica joint venture, is valued at nearly $6 billion.
While Time Warner sits with its newly acquired 10%, current owners Walt Disney Co., Comcast Corp.’s NBCUniversal and Rupert Murdoch’s 21st Century Fox each will maintain a 30% stake in the Internet streaming service.
Hulu is a direct competer of Netflix and Amazon.com and helps give Time Warner’s a foot into subscription video-on-demand programming.
Disclaimer: We have no position in Time Warner Inc. (NYSE: TWX) and have not been compensated for this article.
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