Elaine Paul has been named the new chief financial officer of Hulu. Paul will be replacing Tom Fuelling. Fuelling was at Hulu since 2007. Paul used to be the SVP of Corporate Strategy at Disney and she also worked at the Walt Disney Internet Group. Paul oversaw Disney’s investment in Hulu back in 2009.
Hulu is close to naming Fox executive Mike Hopkins as the CEO of the company, according to sources with Bloomberg. Hopkins’ position is currently the president of distribution at Fox Networks. He will be replacing Hulu acting CEO Andy Forssell. Hopkins is experienced in negotiating with pay TV services.
Google has added the Hulu app to the Chromecast Web TV gadgets. Hulu Plus with support for the Chromecast can be downloaded through Google Play now. You will need to have a Hulu Plus account to have the app work on the $35 Chromecast device. However, you can still stream the Hulu service for free through a web browser through the Chromecast. However, Google points out that the best way to stream content is through official apps.
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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).
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.
Yahoo! is also in the race to acquire Hulu and sources with AllThingsD are reporting that they are putting in a bid at between $600 and $800 million for the video websites. The large price range is due to different circumstances including the length of licensing rights for content and how much control that the programming companies selling Hulu have over their content.
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.