Hulu Is Not Selling Anymore, Owners Putting In $750 Million More
Movie and TV content company Hulu is owned by the parent companies of FOX, NBC, and ABC, which are respectively News Corporation, Comcast, and Disney. The owners of Hulu were reportedly looking for potential buyers of the the video website over the last several months. Companies like DirectTV, Yahoo, and Silver Lake expressed their interest in buying out Hulu at some point. Rather than selling off Hulu, News Corp., Comcast, and Disney decided to invest $750 million to help the video website continue to grow.
“We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match,” stated 21st Century Fox president and chief operating officer Chase Carey. “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.”
Hulu Plus, the paid version of the service, has around 4 million subscribers that pay about $7.99 per month. Hulu made around $690 million in 2012 revenues.