Time Warner is buying a 10% stake in Hulu

Time Warner is buying a 10% stake in Hulu.

The company announced on Wednesday that its networks including CNN, Cartoon Network and Adult Swim will be available live and on-demand on Hulu’s new streaming service, which is set to launch later this year.

“Our two companies have long enjoyed a productive relationship — which includes the availability of past seasons of popular Turner shows on our current SVOD offerings — and we are very proud that Turner’s networks will be included in our planned live streaming service,” said Hulu CEO Mike Hopkins in a statement.

Time Warner shares rose by as much as 3% in premarket trading.

More to come …

NOW WATCH: Reruns on cable are not the same as the originals — check out these differences

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.