NEW YORK (TheStreet) -- Shares of AT&T (T) are higher by 1.08% to $34.03 in late afternoon trading on Wednesday afternoon. Earlier today the telecom company announced that it has struck a deal with Hulu allowing AT&T to offer Hulu's subscription streaming service to its customers through an AT&T website or mobile app later this year.
"We know that our customers want to be able to access video on multiple devices. So we're excited to be able to expand our relationship with Hulu and make its innovative and vast video selections available to AT&T customers on multiple screens," said Andrew Goodman, associate VP of AT&T content acquisition, in a statement announcing the deal.
Online streaming service Hulu has been looking for tie-ups with pay-TV providers since the second half of 2013, following the company's owner's decision not to sell, the Wall Street Journal reports, adding that Hulu is owned by the Walt Disney Co. (DIS), Comcast (CMCSA), and 21ST Century Fox (FOX).
Earlier this week it was reported that the Justice Department and the Federal Communications Commission are not likely to block AT&T's $49 billion effort to acquire the satellite-TV provider DirecTV (DTV).
Separately, TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."