AT&T sold its minority stake in Hulu back to the streaming video joint venture. The transaction valued Hulu at $15bn, with AT&T’s 9.5% interest valued at $1.4bn. The sale did not require any governmental or other third-party approvals and was simultaneously signed and closed. Walt Disney, holds a 60% stake in Hulu via a joint venture, while Comcast has a 30% stake. Based on the joint venture agreement, Disney and Comcast will decide how they want to allocate the shares bought from AT&T. Hulu, which competes with Netflix and Amazon’s Prime Video, has more than 25m subscribers and is expected to lose $1.5bn in the current fiscal year. “We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future. WarnerMedia will remain a valued partner to Hulu for years to come as we offer customers the best of TV, live and on demand, all in one place,” said Hulu CEO Randy Freer.