Hulu

Print writers turn to television for the big bucks

Netflix. Photo: Chesnot/Getty Images

A collection of well-off TV studios and streaming services are competing with traditional media companies for a generous slice of the home entertainment space, and bringing glossy magazine writers along by buying the rights to develop their stories into hit shows, Bloomberg reports.

Why it matters: Big Tech's efforts to take over Hollywood stems from its poaching of talent and franchises. Over the past year, companies such as Netflix, Amazon and Hulu have hired top TV producers to create hit shows. It's no surprise then, that these same companies are paying or hiring big print writers to develop hit storylines.

Comcast agrees to sell its Hulu stake to Disney

Photo: Chesnot/Getty Images

Comcast Corporation has agreed to sell its 33% stake in Hulu to the Walt Disney Company in five years, the companies announced Tuesday ahead of Disney's "UpFront" presentation to advertising executives in New York.

Why it matters: The deal means that Disney will become the full owner of Hulu. The entertainment giant will gain full operational control of the streaming service immediately.