Hulu is going to live-stream CNN, TBS and more next year - CNET

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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 Waer 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 inteet. On Wednesday, Time Waer's Tuer bundle of networks became the first to sign on. Tuer channels to be available live on Hulu include TNT, TBS, CNN, Cartoon Network, Adult Swim, TruTV, Boomerang and Tuer Classic Movies.

The deal doesn't include Time Waer 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 Tuer, Hulu will widen its identity beyond that of Netflix rival. The company is aiming to be the go-to place for cord cutters and young people looking for live television when they decide against the traditional pay-TV package.

The Time Waer investment "marks a major step for Hulu as we continue to redefine television for both consumers and advertisers," Mike Hopkins, CEO of Hulu, said in a release.