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Hulu has repurchased AT&T’s 9.5% stake in the business for $1.43 billion, giving the streaming company a valuation of $15 billion.

The transaction, announced on Monday, indicates that Hulu continues to gain popularity, even as the market for over-the-top content becomes increasingly crowded. The valuation is a big step up from November, when Disney said in a regulatory filing that the company was worth $9.26 billion.

Hulu is owned by a group of media companies, including CNBC parent Comcast and Disney, which now controls Fox.

AT&T said it will use proceeds of the transaction to reduce its debt. AT&T purchased Time Warner last year, giving the company ownership of HBO, which has its own streaming offerings.

© CNBC is a USA TODAY content partner offering financial news and commentary. Its content is produced independently of USA TODAY.

Read or Share this story: https://www.usatoday.com/story/tech/2019/04/15/hulu-repurchases-shares-company-at-t-1-43-billion/3478650002/

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Source:: Daily times

      

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Hulu repurchases AT&T’s stake in company, valuing the streaming service at $15 billion

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