Hulu is selling Japanese subsidiary to Nippon TV
Hulu, the popular video streaming service, is selling their Japanese subsidiary to Nippon TV. Hulu launched in Japan in 2011. Hulu Japan grabbed over 13,000 video assets from 50 content partners. Hulu launched internationally in Japan first, but did not really go anywhere else from there. Hulu decided that their Japanese division was not vital to their long-term plans.
“We have now reached a point in the growth of the business in Japan where we feel the best path forward is to sell the company to a strategic buyer. I’m announcing today that Hulu’s Japan business is to be acquired by Nippon Television Network Corporation (Nippon TV), who will assume the day-to-day operations and management of the business at the closing of the transaction,” stated Hulu CEO Mike Hopkins.
Hulu will continue licensing their brand and content to Nippon TV. Hulu will provide infrastructure services to Nippon as well. Hulu Japan users will get access to more content because Nippon TV will bring their own shows to the service.
[Source: Hulu Blog]