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Reuters

Business

Disney in talks with AT&T to buy WarnerMedia's Hulu stake: Variety

The entrance to Walt Disney studios is seen in Burbank, California, U.S. August 6, 2018. REUTERS/Lucy Nicholson

(Reuters) - Walt Disney Co is actively pursuing the purchase of WarnerMedia's nearly 10 percent stake in Hulu, entertainment business news portal Variety reported on Wednesday, citing sources.

Disney, Comcast and Twenty-First Century Fox Inc each had a 30 percent stake in the video streaming service Hulu, as of September 2018.

Time Warner, renamed WarnerMedia after its acquisition by telecom company AT&T Inc, holds a 10 percent passive stake in Hulu.

In November last year, AT&T committed to cutting its heavy debt load in 2019 through a variety of measures, including a review of all of its non-core assets such as its stake in Hulu for a possible sale.

Disney, Hulu and AT&T did not immediately respond to Reuters' request for comment.

(Reporting by Manogna Maddipatla in Bengaluru; Editing by Shinjini Ganguli)

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