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Hulu may get a huge investment from the owner of HBO

Hulu, the streaming service borne of a joint venture between Walt Disney, 21st Century Fox, and Comcast, is looking for a fourth parent. According to The Wall Street Journal, Hulu is in talks to sell a stake to Time Warner, Inc., in a move that would value the company at $5 billion. The deal would reportedly give Time Warner an equal stake as the other three media conglomerates.

Over the past year, Hulu has bolstered its library by grabbing exclusive streaming deals with major shows like South Park and Empire in addition to making a deal with Epix for a number of future film releases — a deal which happened just after Epix and Netflix parted ways. It also recently introduced an ad-free subscription option in addition to its standard subscription and limited-selection free tier. A deal with Time Warner would include not just cash but could also open the potential for more licensing content deals — Time Warner's stable includes TBS, Cartoon Network, and HBO.