Hulu has hired investment banks Guggenheim Partners and Morgan Stanley to help with a potential sale of the popular streaming television site, reports the Los Angeles Times’ Company Town blog.
Hulu’s move comes after Yahoo approached the site to talk about a possible acquisition, as previously reported.
According to the most recent LA Times piece, prospective bidders have received notice that the sale process will start in about two weeks. Yahoo hasn’t made a formal bid, and it isn’t clear who the other prospective bidders might be, the story notes.
The potential sale comes as Hulu’s owners — News Corp., The Walt Disney Co., NBCUniversal parent Comcast Corp. and Providence Equity — are seeking an exit from their investment three years after the site debuted, the piece notes.