SK Telecom denies plans to bid on Hulu
updated 11:40 pm EDT, Wed August 24, 2011
SK Telecom quickly shoots down rumor
Korean phone giant SK Telecom quickly dismissed rumors that it would bid on Hulu. Being unusually direct, a spokeswoman said her company was aware of Hulu's self sale but that its managers "do not plan to participate" in the bidding process. A rumor earlier claimed SK Telecom was looking once more at a US company as a way of reducing its dependence on cellphones and its native country.
Hulu is believed to be actively hunting for bids as high as $1.5 billion this week. Companies in the running are very broad and include Amazon, DirecTV, Facebook, Google, Yahoo, and even Apple. Only a few may be truly serious, and Apple may duck out. Yahoo is often considered the unofficial favorite because of its desire to catch up with a modern video service.
Details of the process are still vague, including how far Hulu is prepared to go in getting the right bidder. Its conditions may also dictate what happens, with buyers likely demanding exclusive rights to all of Hulu's TV shows or a guarantee the content will stay in the next few years. In taking direct support from three of the top four TV studios, Hulu often has to agree to their terms to keep its content intact.
