Video service Hulu no longer for sale, Streaming video service Hulu is no longer on the market.Co-owners 21st-Century Fox, NBCUniversal and The Walt Disney Company confirmed that they will not sell Hulu, instead opting to pour $750 million into the service to spur growth.
"We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match," says Chase Carey, president and chief operating officer of 21st Century Fox, in a statement. "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."
Several companies have emerged in recent weeks as potential buyers of Hulu, which airs programming from broadcast networks ABC, Fox and NBC as well as other cable television shows and movies. Bloomberg reports Yahoo and DirecTV were among the companies weighing bids.
This isn't the first time the co-owners of Hulu have flirted with selling the company. In 2011, a potential deal was called off following months of negotiations.
Title: Video service Hulu no longer for sale
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Post by 4:26 AM
Rating: 100% based on 99998 ratings. 5 user reviews.
Post by 4:26 AM
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