Hulu buys back AT&T’s 9.5 percent stake

Technology

FILE PHOTO: The AT&T logo is pictured during the Forbes Forum 2017 in Mexico City, Mexico, September 18, 2017. REUTERS/Edgard Garrido/File Photo

(Reuters) – Streaming service company Hulu is buying back wireless carrier AT&T Inc’s 9.5 percent stake in the company in a deal valued at $1.43 billion, the two companies said on Monday.

The transaction valued Hulu at $15 billion. AT&T said it will use proceeds here from the deal to cut down its debt.

Reporting by Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur

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