TheStreet

Hulu bought out AT&T's (T - Get Report) 9.5% stake in the U.S. streaming service for $1.43 billion in a deal that values Hulu at $15 billion.

The sale of AT&T's stake will give Walt Disney (DIS - Get Report) , which has a 60% stake in Hulu via a joint venture, more control of the company.

Comcast's (CMCSA - Get Report) NBCUniversal has a 30% stake in Hulu.

Based on the joint venture agreement, Disney and Comcast will decide how they want to allocate the shares bought from AT&T, according to Reuters.

Hulu previously was co-owned by Disney, Twenty-First Century Fox, Comcast and AT&T. When Disney acquired Fox's entertainment businesses in March, it gained majority control. Disney CEO Bob Iger has said he may be interested in acquiring the rest, according to Bloomberg.

"We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future," Hulu CEO Randy Freer said in a statement. "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."

Hulu has more than 25 million subscribers. Competitor Netflix (NFLX - Get Report) has nearly 150 million subscribers, according to FactSet.

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