Hulu Owners Decide Not to Sell, Investing $750 Million Instead

Posted July 12, 2013 at 6:57pm by iClarified | Please help us and submit a translation by clicking here | 6495 views

Hulu is no longer for sale as owners 21st Century Fox, NBCUniversal and The Walt Disney Company decided to invest $750 Million in the company instead. They will maintain joint ownership in Hulu.

Hulu had attracted bidders such as AT&T and DirecTV with promises from the board that they would review their offers.

“Hulu has emerged as one of the most consumer friendly, technologically innovative viewing platforms in the digital era. As its evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential,” said Robert A. Iger, Chairman and CEO, The Walt Disney Company.

“We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure,” said Chase Carey, President and Chief Operating Officer of 21st Century Fox. “We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they've built over the last few years.”


When Hulu's $7.99 Premium service was introduced in 2010, the company's revenue skyrocketed to $690 Million that same year.

Read More

Share
Add Comment
Follow iClarified
Microsoft Officially Announces Microsoft Band Powered by Microsoft Health [Video]
Skype App Now Lets You Save and Delete Photos From Chats, Syncs Avatars, Loads Faster, More
Spotify Brings Its New Look to the iPad
Spotify has updated its iOS app with a new lo...
StumbleUpon App Now Fully Compatible With iPhone 6, iPhone 6 Plus, iOS 8
StumbleUpon has released an update to its app...
Apple CEO Tim Cook: I'm Proud to Be Gay
Apple CEO Tim Cook has acknowledged his sexua...