Hulu, a streaming-video pioneer that has grown considerably despite an unwieldy ownership structure, is about to undergo significant change once Disney takes majority control of it in the new year.
In a meeting with Wall Street analysts on Thursday, AT&T revealed even more change is coming. John Stephens, CFO of AT&T, said the company was considering letting go of its 10% stake in the streaming giant as part of an overall effort to reduce its massive debt load.
Based on recent valuations, that stake is worth in the range of $930 million — not a life-changing figure for a company as large as AT&T but a worthwhile boost given the stake has never had much strategic purpose. It’s also been a profitable ride, given what Time Warner paid ($583 million) when it took the stake in 2016.
