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Time Warner seeks to take stake in Hulu
MUMBAI: Online streaming service Hulu is in talks to sell a stake to Time Warner Inc. at a valuation pegged at $5 billion.
This will make Hulu, which is up in competition against Netflix, have four media giants as its investors. Already Walt Disney, 21st Century Fox and Comcast’s NBCUniversal are equal owners of Hulu. If Time Warner joins the fold, then all the four will own an equal stake of 25 per cent each.
Hulu approached Time Warner, pursuing a strategy to take on Netflix by broadening its content offerings. Besides investing in cash, Time Warner would license its content to the streaming service.
Hulu will, thus, have access to Warner Bros. studio and Turner Broadcasting , which have TV channels such as TNT, TBS, Cartoon Network and truTV. Time Warner also owns HBO.
According to Nomura Securities, Hulu has upped its content budget from $600 million in 2014 to $1.5 billion this year. After shelving plans to sell Hulu, the three owners have committed to investing $750 million in Hulu.