3 bidders in for Hulu
July 9, 2013
By Chris Forrester
Three bidders are chasing Hulu’s name and assets according to reports – with suggestions that DirecTV is one of the trio prepared to pay well over $1 billion for the US OTT service.
Two consortia are also in the bidding pool. Former News Corp executive Peter Chernin is linking with telco giant AT&T to make a bid. Last – and by no means least – is Guggenheim Digital Partners which is linked with private equity firm KKR.
Hulu achieved revenues of around $700 million last year, and has more than 3 million subscribers paying $7.99 a month to its Hulu+.
Bloomberg reports that Time Warner Cable also remains interested.