— Hulu has acquired the U.S. video-on-demand giant for $3.9 billion, the company announced Wednesday.
The acquisition is expected to close in the second quarter.
Hulu shares are up $1.75, or 1.3%, at $45.85 in early morning trading.
It is the largest acquisition of a publicly traded company in the U, and the company will now be known as Hulu Plus.
Hudson, N.Y.-based Hulu is based in New York and has about 50 million subscribers.
It will be available on Roku, Apple TV, Xbox, PlayStation 4 and other devices.
Hulu is available in over 100 countries.
Hannibal Buress, Hulu CEO, said in a statement that he was thrilled to join the Hulu family.
“Hulu is a great fit for Hulu Plus, and we’re confident that the Hulu Plus experience will make the most of the best content available on our platform.”
Hulu CEO Jack Dorsey said in the same statement that the new acquisition would help Hulu grow in a rapidly evolving media landscape.
“The addition of Hulu Plus is another step in our journey toward a truly personalized and personalized media experience for our users.”