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AT&T : TitleHulu Buys AT&T's Minority Stake in Joint Venture

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04/15/2019 | 05:38pm EDT

AT&T (NYSE:T) and Hulu today announced an agreement by which AT&T has sold its minority stake in Hulu back to the streaming video joint venture. The transaction valued Hulu at $15 billion, with AT&T's 9.5% interest valued at $1.43 billion. The transaction did not require any governmental or other third-party approvals and was simultaneously signed and closed.

'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.

AT&T will use proceeds from this transaction, along with additional planned sales of non-core assets, to reduce its debt.

Disclaimer

AT&T Inc. published this content on 15 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 April 2019 21:37:11 UTC

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Sales 2019 183 B
EBIT 2019 30 568 M
Net income 2019 19 358 M
Debt 2019 157 B
Yield 2019 6,07%
P/E ratio 2019 13,0x
P/E ratio 2020 12,0x
EV / Sales2019 2,20x
EV / Sales2020 2,15x
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 34,79  $
Last Close Price 33,71  $
Spread / Highest target 42,4%
Spread / Average Target 3,21%
Spread / Lowest Target -37,7%
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NameTitle
Randall L. Stephenson Chairman, President & Chief Executive Officer
John J. Stephens CFO, Principal Accounting Officer & Senior EVP
Joyce M. Roché Independent Director
Laura D'Andrea Tyson Independent Director
Matthew K. Rose Lead Independent Director
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