AT&T: sells minority stake in streaming video service Hulu

(CercleFinance.com) - US telecommunications giant AT&T has sold its 9.
5% stake in Hulu back to the streaming video company in a deal worth about 1.4 billion dollars, the companies said late on Monday.

AT&T plans to use the proceeds from the sale, along with additional planned sales of non-core assets, to reduce its debt.

The transaction values Hulu at 15 billion dollars.

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