Cable Giant Time Warner to Acquire Stake in Netflix Competitor Hulu

Time Warner is buying a stake in Hulu. The cable giant is acquiring 10% of the video streaming service for $583 million, Time Warner’s chief financial officer revealed during the company’s earnings call this morning.

This expands Time Warner’s content distribution and helps the company reach a younger audience that is less interested in subscribing to traditional cable. Walt Disney Co, 21st Century Fox, and Comcast are also shareholders in Hulu.

https://borndigital.com/2016/07/18/best-alternatives-to-television

Time Warner’s quarterly profit hovers in the range of $1 billion, but Hulu, sources suggest, is not profitable. Even so, the cable giant raised its financial forecast for the year based on optimism surrounding the acquisition, and investors agree: the company’s stock is up 4%.

https://borndigital.com/2016/06/05/netflix-cable-2016-06-02

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