Yahoo bid for Hulu?
June 22, 2011
By Chris Forrester
The Wall Street Journal reports that VoD streaming site Hulu is “considering its options” including a possible sale of its assets after an unidentified potential buyer approached the company. The LA Times says that approach was from Yahoo. Hulu is owned by NBC Universal, Disney ABC, News Corp/Fox and Providence Equity Partners. Providence chipped in $100 million in funding and received 10 per cent equity.
The WSJ is owned by News Corp, also the owner of Fox.
Hulu was launched in March 2008 to US users only and has had on-off international plans since. In March, chief executive Jason Kilar predicted that Hulu+, the $7.99 a month subscription service, would have over a million subs by year end.
The company said it was on track to approach $500 million in revenue in 2011, up from $263 million in 2010. Its first-quarter revenue grew 90 per cent from 2010.