Rumors have been circulating since August of plans by video website Hulu to sell stock in an IPO. Now Reuters has checked in with a report of some more details.
What’s new in the Reuters report from what the New York Times reported is the size of the likely stock offering: $200-300 million. Also, the report quotes sources as saying Morgan Stanley will be the lead underwriter.
Of course, there’s no confirmation and nothing has yet been filed with the SEC.
Hulu is currently owned by News Corporation, The Walt Disney Company, NBC Universal and Providence Equity Partners. CBS Corporation did not join the other major network owners in funding the launch three years ago and has thus far refused to license any of its shows for viewing on Hulu. The video site is ad-supported, but has also been experimenting with a paid service offering access to more content. Hulu is said to be valued at about $2 billion.
RBR-TVBR observation: While the bond market has been hot, we’re still waiting for a media industry IPO to make it to pricing. The Nielsen Company has had its IPO waiting for some time with no indication yet when it will be priced.