If there wasn’t already enough hype around Hulu’s planned live streaming service, in comes Time Warner Cable.
The cable operator paid about $580 million for a 10 percent stake in Hulu, the company announced Wednesday, Aug. 3, as reported by CNN. TWC joins Disney, 21st Century Fox and Comcast as other parents of the streaming service.
Investors want to know what that means for Hulu. Simply put, TWC now values Hulu as a $5.8 billion company.
But what about for consumers? Securing a deal with TWC means more channels locked into Hulu’s new streaming service.
As it has been previously reported, Hulu is ready to launch a skinny cable bundle streaming service in the first quarter of 2017. It’s expected to cost about $30 per month and be the closest streaming service to mimic a true package of cable and some local channels.
With Disney (ABC), Fox and Comcast (NBC) on board, three of the four major broadcast networks are going to be represented on Hulu. TWC brings us CNN, TBS, TNT, Cartoon Network and Turner Classic Movies.
“These are just the latest examples of our commitment to supporting innovative digital services that allow consumers to access high-quality content however they want it across a variety of platforms,” TWC CEO Jeff Bewkes said in a statement.
