Streaming service company Hulu is buying back wireless carrier AT&T Inc's 9.5% stake in the company in a deal valued at $1.43 billion, the two companies said on Monday.

The transaction valued Hulu at $15 billion. AT&T said it will use proceedsfrom the deal to cut down its debt.

Disney owns 60% and Comcast owns 30% of Hulu.

"We thank AT&T for their support and investment over the past two years and look forward to collaboration in the future," Hulu CEO Randy Freer said in a press release. "WarnerMedia will remain a valued partner to Hulu for years to come as we offer customers the best of TV, live and on demand, all in one place."

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