Providence Equity Partners Sells 10% Stake In Hulu At $2 Billion Valuation
Providence Equity Partners has sold their 10% stake in Hulu at a valuation of $2 billion according to sources with TechCrunch. Hulu is borrowing money to fund the repurchase. Hulu CEO Jason Kilar will receive $40 million from this transaction.
Since Providence sold their stake, ownership of Hulu now belongs to News Corporation, Comcast Corporation, and The Walt Disney Company. Hulu was started in 2007 as part of a partnership between Providence Equity Partners, News Corporation, and Comcast’s NBC Universal.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry