This article from The Street expresses some bafflement about the online video service owned by CBS, ABC, and NBC's parents, which recently announced a link-up with AT&T. "I'm really not sure what Hulu is up to," said Michael Pachter, a media industry analyst for Wedbush Securities. "They're owned by the TV networks, so they have a different strategy from Netflix. I think that they want to be an over-the-top alternative as a hedge, but they don't have the depth of content to compete with Netflix."