Even if you cut the cord with Netflix, Hulu, HBO Go and others all vying for your dollars, it can feel like death by 1,000 video subscriptions.
Hulu has repurchased AT&T’s 9.5% stake in the business for $1.43 billion, giving the streaming company a valuation of $15 billion.
The transaction, announced on Monday, indicates that Hulu continues to gain popularity, even as the market for over-the-top content becomes increasingly crowded. The valuation is a big step up from November, when Disney said in a regulatory filing that the company was worth $9.26 billion.
Hulu is owned by a group of media companies, including CNBC parent Comcast and Disney, which now controls Fox.
AT&T said it will use proceeds of the transaction to reduce its debt. AT&T purchased Time Warner last year, giving the company ownership of HBO, which has its own streaming offerings.
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