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Disney in Active Talks With AT&T to Acquire WarnerMedia’s 10% Hulu Stake

February 27, 2019 / TODD SPANGLER

Disney wants to get even more control over Hulu: The company is in active discussions with AT&T to acquire the 10% stake that WarnerMedia owns in the streaming joint venture, Variety has learned.A knowledgeable source confirmed the talks, which come as Disney heads down the homestretch in gaining regulatory approvals to buy 20th Century Fox. Once that closes, Disney would pick up Fox’s 30% ownership share in Hulu. Meanwhile, AT&T on Tuesday prevailed in a court challenge by the Department of Justice, which was attempting to block its takeover of Time Warner.Reps for Hulu and AT&T declined to comment. Disney didn’t respond to a request for comment.Disney currently holds a 30% stake in Hulu, as does Comcast/NBCUniversal — which is not prepared to exit the JV at this point. “Disney would like to buy us out,” NBCU CEO Steve Burke told Variety last month. “I don’t think anything’s going to happen in the near term.” Word that ...