Hulu’s Talks With Time Warner Cable For Ownership Fall Apart
Video streaming service Hulu.com has cancelled plans to sell equity to Time Warner Cable. Discussions may be started up again at a later date, according to sources with Variety. There are currently three media companies that own Hulu: The Walt Disney Company (ABC), News Corporation (FOX), and Comcast (NBC).
Earlier this year, these three companies solicited bids to sell the company. DirecTV, The Chernin Group, AT&T, KKR, and Guggenheim Digital all made offers. Time Warner Cable proposed a partial ownership stake.
On July 12, Hulu’s owners decided to end the bidding process and invest $750 million into the video website to add more content and continue growing the company. They decided to end the bidding process because the offers were too low.