Printed from http://www.electronista.com

Hulu decides against selling itself off

updated 08:15 pm EDT, Thu October 13, 2011

Hulu says studios see it as too valuable

Hulu in a brief note said it had decided to stop its attempted selloff. The statement, which had the support of Disney, investor Providence Equity Partners, and Fox's parent company News Corp., claimed that each of the owners though there was too much of a "unique and compelling strategic value" for each of them to sell. It would instead center on existing plans.

"Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu," it said.

While not publicly confirmed, the exit might have been triggered by unconvincing bids. Of the few key bidders, Amazon, DirecTV, and Yahoo may have been seen as bidding too low. Yahoo is rumored to have jumped out early to deal with its internal turmoil.

Google was at one point a serious bidder and would have been hoping to bolster its YouTube TV plans. TV studios might have balked knowing that Google would likely try to reduce the need for traditional TV.

The bidding contest started after Yahoo made a surprise offer. Hulu saw that as an opportunity to explore a selloff and, at one point, talked to Apple in casual exploration of a deal. Some observers had seen any deal as problematic since the studios might lose control to a third party, such as Google, that wouldn't attempt to shelter the legacy TV business from Internet competition.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Patriot Aero Wireless Mobile Drive

Regardless of how large a tablet you buy, you always want more space. There's always one more movie or another album you'd cram on, if ...

Sponsor

toggle

Most Commented

 
toggle

Popular News