DIRECTV (NASDAQ:DTV) is currently reviewing a deal to buy out Hulu, according to sources with The Wall Street Journal. Hulu is owned by The Walt Disney Company, News Corporation, and Comcast Corporation. The three parent companies have been exploring strategic options for Hulu including a sale. Some of the other companies that have expressed interest in buying out Hulu include Time Warner Cable, private equity firm Guggenheim Partners, Yahoo! Inc., and The Chernin Group.
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.
Former Amazon executive Jason Kilar did an incredible job putting together Hulu and maintaining the company as CEO. Earlier this month, Kilar announced that he would be resigning after working as CEO for five years along with Hulu CTO Rich Tom. Earlier today, Hulu announced that Andy Forssell will be the new CEO. Previously Forssell served as the SVP of Content and Distribution at Hulu. He has been with the company for around 5 years also. Below is a message that Kilar sent about Forssell transitioning into the CEO role:
The Hulu app on Android had a Kids Lock feature for quite a while. Now the same feature is available on the iPhone and iPad. The Hulu Kids Lock is a virtual button that makes it possible for parents to block mature content from being viewed by kids. Parents can disable to the Kids Lock by inputting a password. The feature was added in version 2.7 of Hulu for iOS.
Hulu CEO Jason Kilar and CTO Rich Tom are stepping down this quarter according to the Hulu blog. It is unknown what Jason and Rich will be doing after leaving the company. Jason said that the two will be staying on long enough to “ensure there is ample runway to manage this transition.” There are over 3 million paid Hulu Plus users as of the end of 2012. Jason said that the company added over 200,000 new subscribers in just the past seven days (December 27-January 4). Jason Kilar’s estimated exit package is rumored to be at around $100 million. Hulu generated around $695 million in 2012 revenues.
Hulu CEO Jason Kilar is asking investors for $200 million additional funding. The three major movie and TV companies that own Hulu include Disney, Comcast, and News Corp. Hulu wants to use the additional $200 million in funding to buy more programs and expand overseas.