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Why Consolidation Could Ruin Hulu and Other Streaming Services

Perspectives: Opinions from our network of advisors, investors, operators and analysts on the risks and opportunities they see.


The tongue-in-cheek tagline of Hulu’s first national ad campaign, “we’re about to ruin TV for you,” may ring true for TV fans — but not in the way Hulu originally intended.


On Monday afternoon, AT&T announced that it had sold its 10% minority stake in Hulu, which it acquired as part of its purchase of Time Warner in 2018, to the streaming service for $1.43 billion. Now, the once diversified joint venture is the property of two companies: Disney with a 67% stake and Comcast with a 33% interest. This deal more or less ends one of the last jointly owned streaming services that could satisfy the fragmented needs of the digital consumer without one company driving decisions.

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