Time Warner invests in Hulu in win for cable cord-cutters

Time Warner Inc., which owns HBO, TNT and TBS, took a 10 percent stake in Hulu for $583 million, in another step blurring the lines separating cable TV from Internet video services.

Hulu already has a deal with CBS to carry Showtime for an extra fee, while HBO has a similar arrangement with an online TV service called Sling TV.

There also may be more competition soon, as U.S. regulators are weighing new requirements that would require the TV industry to allow technology companies such as Google and Apple to sell cable boxes, too.

If cable boxes are sold by technology companies, they will likely feature more Internet applications, stepping up the pressure on incumbent providers to adapt.