Hulu Is Not For Sale, But They Are Receiving Offers
The high-quality video streaming content website Hulu is not for sale, but they are still receiving offers. AllThingsD is reporting that several potential acquirers have reached out to Hulu’s corporate parent companies, but they have not made a formal offer yet.
Ross Levinsohn, the former interim Yahoo! CEO and current CEO of Guggenheim Partners Digital Media, is one of the potential suitors. In fact, he tried hard to buy out Hulu when working at Yahoo! Guggenheim is a $160 billion fund that owns the L.A. Dodgers baseball team and The Hollywood Reporter.
This is not the first time that Hulu was approached for a sale. Hulu’s owners put the company up for sale in 2011, but decided to call it off in the same year. The company owners stopped the sale because they decided that Hulu has a “unique and compelling strategic value to each of its owners.”
Providence Equity Partners sold their stake in Hulu and Comcast’s NBC Universal gave up their managerial decision power because of regulatory restrictions imposed as a result of the NBC acquisition. Hulu CEO Jason Kilar is going to be stepping down soon.
Disney and News Corporation have been colliding in terms of Hulu’s strategy going forward. News Corporation would like to see Hulu become a subscription-only service and move away from ads. But Disney prefers that Hulu remains a free service that is supported by ads.
Other reported suitors for a Hulu acquisition include Apple, Google, and Microsoft.