Time Warner Cable Chief Executive Glenn Britt is talking with other cable operators about joining forces in a bid for streaming service Hulu, reports the New York Post.
The idea would make sense, given that the cable industry is threatened by the growing popularity of streaming video from Hulu, Netflix and Amazon.
The pay-TV operators could then turn Hulu into an "authenticated" service, which would allow subscribers to continue receiving it as long as they paid for cable, the piece notes.
Hulu’s owners — News Corp., Disney and Comcast — reportedly want bids by May 23, and have hired Guggenheim Partners to explore a sale.
Comcast, the country’s biggest cable service, controls about one-third of Hulu but can’t control it, a condition of its 2010 acquisition of NBCUniversal. Under the plan, Comcast would keep its stake, while Time Warner Cable and other pay-TV companies would buy out the other partners, an idea that Comcast CEO Brian Roberts likes, the story says.
A great idea. That will destroy HULU and not solve the cable companies issue. It just opens the door for more start-ups to replace HULU. The under 30 generation is mobile and doesn’t want cable right now. This won’t help the problem, just destroy a successful company. Are you also going to buy Microsoft, Google and Amazon?
I agree with you. It may well be that the destruction of HULU is seen as a way to hold off the tide of progress. I’m glad I don’t have stock in these companies pushing a losing agenda.