Heard on the Street: By selling its Hulu stake, AT&T leaves the streaming service in the hands of Disney and Comcast. The two rivals need to figure out what to do with it.
As the streaming race between media companies heats up, battle lines are being drawn and strategies are taking shape. Monday saw a new development as AT&T announced selling its 9.
5% stake in Hulu, which it inherited as part of its acquisition of Time Warner. That will help the cellphone carrier and pay-TV distributor unburden some of its massive debt. What it means for the future of Hulu, which is now co-owned by rivals Disney and Comcast, is less clear.
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