Yahoo Approaches Hulu; Hulu Unsure About Selling

HuluYahoo has met with Hulu regarding a "possible acquisition," but it is currently unclear if the online video streaming service is interested in selling at this point. On Tuesday, an unsolicited offer was rumored and eventually confirmed by anonymous sources close to Hulu.

It is unknown whether Yahoo made this particular offer or if Hulu's owners will actually sell or not.

At this point, Hulu has not moved forward with any conventional steps that would indicate selling like retaining an investment bank to field offers. Its board of directors also has not met to discuss any offers.

On the other hand, Hulu is undergoing restructuring that would give current executives "greater autonomy while imposing new rules on the availability of television content."

Hulu is owned by NBCUniversal (Comcast/General Electric), Fox Entertainment Group (News Corp.) and Disney-ABC Television Group (The Walt Disney Company) with funding by Providence Equity Partners. It was founded in March 2007 and launched in March 2008.

Hulu has become quite popular with over 27 million monthly viewers, but it's also experiencing some challenges regarding the balance between the viewers' desire for free online shows and the owners' desire to protect the value of such programming. In an effort to solve this dilemma, Hulu launched a paid subscription service last year.

Yahoo, Hulu, Comcast, Disney and News Corp. spokespeople have declined to comment on Yahoo's involvement in any offers regarding Hulu.

Source: DailyTech

Tags: Yahoo

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