The Wall Street Journal: Time Warner invests in streaming with 10% stake in Hulu

Time Warner Inc. said Wednesday that it agreed to buy a 10% stake in video service Hulu, a move that comes as traditional cable companies struggle with viewers increasingly cut the cord and as Hulu prepares to launch a new live-streaming service.

In addition, Time Warner TWX, -1.25% also reported better-than-expected second-quarter earnings and lifted its profit forecast for the year, though profit and revenue fell from a year earlier, thanks to slowing revenue growth in its HBO business and box office weakness.

Time Warner didn’t disclose the terms of the Hulu deal.

In November, The Wall Street Journal reported talks about Time Warner becoming an equal stakeholder in Hulu alongside Walt Disney Co.

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