The owners of Hulu announced Thursday evening (10/13) that they have called off the effort to sell the video streaming online service. The bidding process begun in August did not produce an offer that enticed the current owners to sell.
Hulu is owned by News Corporation, Providence Equity Partners, The Walt Disney Company and the Hulu senior management team. They issued this joint statement:
“Since Hulu holds a unique and compelling strategic value to each of its owners, we have terminated the sale process and look forward to working together to continue mapping out its path to even greater success. Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu.”
Disney was reported to be the main partner pressing for a sale. However, the top bid – said to have come from Dish Network – was below the $2 billion that had been sought. Google reportedly offered considerably more, but on its own terms – insisting on long term content deals from the sellers.
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