Santa Monica’s Hulu is in early talks to sell a 25 percent stake to Time Warner, reports the Wall Street Journal. Such a deal would value Hulu at $5 billion. The deal would reportedly involve the current owners, Walt Disney Co., 21st Century Fox Inc. and Comcast Corp., drawing down their individual stakes from one third to 25 percent. Under the terms that have been discussed, Time Warner would invest cash in Hulu and commit to license more content to the streaming service.