Time Warner will become a 10% owner of Hulu, joining The Walt Disney Company, 21st Century Fox, and Comcast in the joint venture.
Turner’s entertainment, sports, news and kids networks including TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies will be available live and on-demand on Hulu’s new live-streaming service, which is slated to launch early next year.
With no set-up costs or installation, Hulu’s new service will offer an intuitive and personalized interface, and instant access to live and on-demand content, across hundreds of living room and mobile devices.
Hulu will continue its current offering of ad-supported and ad-free subscription video on demand products to complement both traditional pay TV packages as well as the new streaming service.
Also, the company said it remained focused on acquiring iconic and award-winning programming like Empire, Homeland, Seinfeld, Curious George, South Park and Fear The Walking Dead, as well as creating original programming that builds upon its success with shows such as The Mindy Project, The Path, Difficult People, 11.22.63 and the Golden Globe-nominated Casual.
“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 Jeff Bewkes, chairman and CEO of Time Warner.