From CNET: Hulu scored a major investment and a cache of high-profile channels for a live-TV service it plans to launch next year, as key programmer Time Warner agreed to buy a 10 percent stake Wednesday.
The streaming service, which is owned by three of the country's main broadcast networks, plans to launch a paid option next year that broadcasts live TV over the internet. Wednesday, Time Warner's Turner bundle of networks became the first to sign on. Turner channels to be available live on Hulu include TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies.
The deal doesn't include Time Warner crown jewel HBO, and it doesn't put any on-demand shows from the company on Hulu's Netflix-like service of TV repeats and originals.
It is Hulu's first solid step toward its ambition of being a pay-TV replacement for consumers shifting their video viewing online. With a live service including Turner, Hulu will widen its identity beyond Netflix rival. The company is aiming to be the go-to place that cord cutters and young people turn for live television when they decide against the traditional pay-TV package.
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