Peter Chernin bid $500M for Hulu


HuluFormer News Corp. President Peter Chernin bid around $500 million for Hulu, the online video streaming service he helped create in 2007, according to The Wrap.

The website, jointly controlled by News Corp and Disney, reached out to potential buyers in March after exploring a deal in which one would buy out the other. No word whether that transaction is still on the table.

Chernin, a former Hulu board member who now runs The Chernin Group, is among those interested, the story said.

Providence Equity Partners invested $200 million in The Chernin Group in 4/12. The private equity firm sold its 10% stake in Hulu in October for $200 million, valuing the streaming service at $2 billion.

Hulu’s third owner, Comcast, gave up corporate control as a condition of buying NBCU. The owners have shopped Hulu before, rejecting bids in 2011.

See The Wrap story here.