Hulu No Longer For Sale, Receives $750 Million USD in Funding
July 15, 2013 9:47 AM
comment(s) - last by
The co-owners have decided to hold onto Hulu and fund its growth
Hulu's co-owners have taken
the "for sale" sign
off of the video streaming service and decided to pour more money into it instead.
NBCUniversal, 21st Century Fox and The Walt Disney Company -- which co-own Hulu -- have decided not to sell Hulu afterall. Instead, they're putting $750 million USD in cash into the service to help it grow.
"We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure," said Chase Carey, President and Chief Operating Officer of 21st Century Fox. "We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, 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."
Hulu, which was founded in March 2007, has been attracting
bidders such as Yahoo
, Time Warner Cable and DirecTV ever since the sale was announced. In May of this year, some sources valued Hulu at $2 billion USD.
However, selling Hulu wasn't easy because it only had short-term contracts with content providers, meaning the buyer would have to work to renew these contracts or find other sources of content -- and this does not come cheap.
Hulu has some tough competition out there, such as Netflix and Amazon. The two have similar subscription-based models and have deep pockets to continue offering premium content at fairly low prices ($8 per month for Netflix or $79 per year with Amazon). But Hulu and its premium service Hulu Plus has a good following, and with the new $750 million in cash, Hulu has a good chance of sticking around as one of the big boys in the video streaming world.
This article is over a month old, voting and posting comments is disabled
RE: Willing to pay providing
7/15/2013 12:49:27 PM
All I see on Hulu is the same crap that's currently on TV anyway. Maybe a few sitcoms others find funny like Friends or whatever, but seriously; why bother? Commercials, less content, no original programming like House Of Cards, and it costs more than Netflix.
It doesn't take a genius to see why its struggling.
"The whole principle [of censorship] is wrong. It's like demanding that grown men live on skim milk because the baby can't have steak." -- Robert Heinlein
Report: Yahoo Has Joined Bidding for Hulu
May 27, 2013, 9:47 AM
Hulu in Talks with Buyers
March 26, 2013, 1:25 PM
Chris Poole Retires From Role as 4Chan After a Decade of Success, Struggles
January 23, 2015, 1:45 PM
Study Shows People are Dumb as Ever With Passwords, Still Using "123456"
January 20, 2015, 3:19 PM
Site for "Glitter as a Service" Mail Pranks, ShipYourEnemiesGlitter, Launches
January 13, 2015, 2:22 PM
OS X Yosemite Compromises Security by Retrieving Embedded Email Images
January 13, 2015, 11:30 AM
ISIS JIhadi From NZ Accidentally Shares Location on Twitter, Outs Cohorts in Selfie
January 3, 2015, 11:35 PM
Amazon's Kindle Fire HDX 8.9 Drops to $299 (30 Percent Off) for a Day
December 22, 2014, 10:57 AM
Most Popular Articles
Microsoft Shows Off Latest Windows 10 Build, Preps it for Next Week Release
January 21, 2015, 2:57 PM
Under the Hood: How DirectX 11.3 and 12 Will Supercharge Windows 10 Gaming
January 23, 2015, 12:34 PM
IDC: 2014 Sales Show PC Isn't Dead, But Desktop May be Dying
January 19, 2015, 1:50 PM
Police are Using New Handheld Radar Sensors to Peer Into Houses w/out Warrant
January 20, 2015, 1:35 PM
Report: HTC One M9 (2015) is Tied to Under Armour-Powered HTC Smartwatch
January 19, 2015, 11:10 AM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information