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: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.