TVBizwire

Report: Former News Corp. Executive Bids $500 Million for Hulu Reuters

A former News Corp. executive and veteran television exec has reportedly bid about $500 million for the online video streaming site Hulu. Reuters reports that Peter Chernin, the former president of News Corp., made the bid.

Chernin helped created the service in 2007, and current owners News Corp. and Walt Disney reached out to potential bidders last month, the story notes. It's not known whether other bidders have emerged, the piece adds.

Chernin, also a former Hulu board member, left News Corp. in 2009 to create the holding company the Chernin Group, which has stakes in companies such as Pandora and also has film and TV production efforts.