Time Warner invests in Hulu

hulu, warner

Time Warner has paid $583 million for a 10 per cent stake in Hulu, valuing the video streaming company at $5.8 billion, as the owner of HBO and CNN looks to appeal to a generation of “cord-cutting” consumers who are eschewing traditional television in favour of streaming… As part of the agreement with Time Warner, programmes from Turner’s TV channels, including TBS, CNN and Cartoon Network, will be included in Hulu’s live-streaming service which is expected to launch next year… The deal makes Time Warner the latest media conglomerate to take an interest in Hulu. The service was launched in 2008 as a joint project of NBCUniversal, now owned by Comcast, and News Corp, then-owner of Fox, with Disney taking a stake in 2009. Rocketing demand for online video is reshaping the US TV industry, as viewers look to watch shows over the internet on a screen of their choosing, rather than on a TV set.
Anna Nicolaou and Pan Yuk