Time Warner has acquired an equity ownership stake of SVOD Hulu — 10% to be exact — joining a group that consists of The Walt Disney Company, 21st Century Fox and Comcast.
As part of the deal, Time Warner also signed an affiliate agreement that will see Turner entertainment, sports, news and kids networks including TNT, TBS, CNN, Cartoon Network, Adult Swim, Truth, Boomerang and Turner Classic Movies become available live and on-demand on Hulu’s new live-streaming service, which is set to debut early on in 2017. The new service will feature a personalized interface and instantaneous access to live and on-demand content, giving viewers an option more similar to traditional television.
“Our investment in Hulu underscores Time Warner’s commitment to supporting and developing new platforms for the delivery of high-quality content and great consumer experiences to audiences around the globe,” said Time Warner chairman and CEO Jeff Bewkes in a statement.
“This investment from Time Warner marks a major step for Hulu as we continue to redefine television for both consumers and advertisers,” added Mike Hopkins, CEO of Hulu.
Hulu will continue to offer users ad-supported and ad-free subscription video on demand products to complement both traditional pay TV packages as well as the new streaming service. It will also stay focused on acquiring and increased number of exclusive series and movies — it recently acquired the first four seasons of Showtime’s flagship drama series Homeland — and creating original programming like Difficult People (pictured) and Casual.