Owners call off Hulu sale again
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
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Iron ore price decline hurts U.S. Steel’s cost advantage over rivals
- Know flat-rate repair times
- New York Fed chief defends supervision of banks before Senate panel
- Westmoreland County’s Excela Health rethinks patient debts
- Pennsylvania unemployment rate drops to six-year low
- Stock market logs 5th straight week of gains as Dow hits record high
- Health care, gas drilling industries await Gov.-elect Wolf’s footprint
- Mark Phelan: Cadillac, Mercedes hope to win at name game
- Sonata exudes class
- CEOs in 10 big mergers to get $430M: Equilar study
- Ford: Aluminum-body truck to get 26 mpg