Hulu’s Owners Cancel Sale

Oct 14, 2011  •  Post A Comment

Saying the strategic value of Hulu is too important, the owners of the online-streaming service have canceled the sale of the property, reports Bloomberg.

“Hulu holds a unique and compelling strategic value to its owners," owners News Corp., Walt Disney and Providence Equity Partners said in a statement. NBCUniversal remains an owner but gave up oversight when it was bought by Comcast, the article notes.

The group is looking "forward to working together to continue mapping out its path," the statement added, according to the piece.

The decision comes at a time when Hulu may have a better shot at winning paying subscribers, given many consumers’ frustrations with Netflix’s price hike and on-again, off-again plan to break off its mail DVD service, the story notes. Hulu currently has more than 1 million subscribers to its $7.99-per-month Hulu Plus service.

During the four-month auction, Hulu attracted offers from Google, Amazon, Yahoo and Dish Network, the piece adds. Dish, which recently bought Blockbuster and started its own online streaming service, had bid $1.9 billion, the article says.

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