TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Owners call off Hulu sale again

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Saturday, July 13, 2013, 12:01 a.m.
 

The on-again, off-again sale of Hulu is off — again.

Hulu's owners — 21st Century Fox, Disney and NBCUniversal — said Friday that they will remain owners of the online video service, while providing a cash infusion of about $750 million to ensure its growth.

The owners accepted formal bids for Hulu as recently as last week as part of their second attempt in three years to sell the company. But the announcement suggests the bids were too low. Reports pegged the high end of bidding around $1 billion, which is half of what Hulu was valued at when the existing owners bought out Providence Equity Partners' 10 percent stake for $200 million in April 2012.

Among the bidders were DirecTV and a partnership of AT&T and a group led by former Fox executive Peter Chernin. Time Warner Cable Inc. reportedly was interested in buying a stake in Hulu, rather than taking it over completely.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Natrona Bottling Co. keeps soda pop operation small, putting effort into craft, taste
  2. PPG Industries to buy Westmoreland Supply paint store chain
  3. Streaming won’t mean the end of cable
  4. Fannie Mae might take 3% down
  5. Open enrollment puts varied impact of health care law back in focus
  6. IBM to pay $1.5B to shed chip division
  7. Plastics, tech sectors crucial to cracker plants
  8. Large-scale batteries are integral in shift to renewable energy
  9. Stocks on upswing
  10. 7 things you didn’t know your browser could do
  11. Value, convenience are top priorities of Highmark, new CEO Holmberg says
Subscribe today! Click here for our subscription offers.