Time Warner buys 10% stake in Hulu

 

Time Warner agreed to buy a 10% stake in video service Hulu for USD 53 million in cash, valuing Hulu at about $5.8 billion.

Under the terms of the agreement, contents of Time Warner’s unit Turner, which includes TNT, CNN and Cartoon Network, among others, will be available live and on-demand on Hulu’s new live-streaming service, which will launch next year, reported BBC News.

Time Warner already offers video streaming services in the United States and Latin America through its units Turner and HBO, which includes HBO Go and HBO Now platforms.

In the United States, Time Warner Cable completed this year its merger with Charter Communications.