- CBS (NYSE:CBS) and Hulu are expected to announce a deal today where the streaming service will license the CBS broadcast network and some of its cable nets for the planned Hulu live TV service, The Wall Street Journal reports.
- CBS shares have jumped in response, up 3.1%.
- The deal is said to cover only the live service, not Hulu's existing on-demand offering. Full current seasons of popular CBS shows on demand would remain exclusive to CBS' own streaming service, CBS All Access. But Hulu will get a few recent episodes of such shows, and CBS will bring in more than $3 per monthly subscriber in the deal at first.
- Eventually in the long-term deal, though, CBS could get more than $4 per monthly sub -- more than what it makes from existing pay TV distributors.
- Hulu -- co-owned by CBS rivals Comcast (NASDAQ:CMCSA), Disney (NYSE:DIS), Fox (FOX, FOXA) and Time Warner (NYSE:TWX) -- has already signed other major groups including owners Disney, Fox and Time Warner.
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Updated 12:14 p.m.: Hulu owners' stocks are on the move: CMCSA +1.6%; DIS +0.8%; FOX +1%; FOXA +1.1%; TWX +0.4%.