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Technology Stocks : Investing in Exponential Growth

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From: Paul H. Christiansen	8/3/2016 2:38:58 PM
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Time Warner Takes Stake In Netflix Rival Hulu, Joins Live Service Nettflix ( NFLX), watch out: The big boys are banding together. Time Warner said it is joining peers Walt Disney ( DIS), 21st Century Fox ( FOXA) and Comcast ( CMCSA) unit NBCUniversal in becoming a joint owner in streaming service Hulu. The HBO and TNT parent is acquiring a 10% stake. The deal is worth $583 million, according to Wall Street Journal sources, and values Hulu at $5.8 billion. Disney, Fox and Comcast had previously been equal 33% stakeholders in Hulu, with the Journal reporting last fall that Time Warner had been mulling an equal 25% stake. Time Warner turned in mixed results early Wednesday, topping Q2 earnings views but falling short on revenue. The company hiked 2016 EPS guidance by a nickel to $5.35-$5.45 vs. current Wall Street estimates for $5.39. Time Warner rose 2.7% to 77.86 in early afternoon trade in the stock market today. Netflix shares fell 0.5%. The move comes after about a year of hand-wringing over the health of the pay-TV and cable environment, which has weighed on media stocks and put even heavyweights like Disney under the microscope. investors.com

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