The media companies that own Hulu (21st Century Fox, Walt Disney Co. and Comcast Corp.) have opted not to sell the online video site, saying that instead they will maintain their stakes and recapitalize the company with a $750 million cash infusion. The decision comes after the owners had held an auction of the site in recent weeks.
"We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match," says Chase Carey, president and chief operating officer of 21st Century Fox, in a statement. "But with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they've built over the last few years."
Several companies have emerged in recent weeks as potential buyers of Hulu, which airs programming from broadcast networks ABC, Fox and NBC as well as other cable television shows and movies. Bloomberg reports Yahoo and DirecTV were among the companies weighing bids.
This isn't the first time the co-owners of Hulu have flirted with selling the company. In 2011, a potential deal was called off following months of negotiations.
No comments:
Post a Comment