Fox, Disney and NBC Universal the three owners of online entertainment service Hulu – have called off planned sale and announced that they will invest $750 million in the service. The move represents the second time Hulu has been taken ‘off the table’.
Although as many as seven different parties had entered the bidding fray, the number of interested bidders had diminished as the owners reportedly insisted on receiving at least $1 billion for the company.
Onerous content demands were understood to be a further stumbling book, with networks such as NBC, ABC and Fox wanting the power to hold back certain shows from Hulu and impose strict windows on airing recent material.
“Hulu has emerged as one of the most consumer friendly, technologically innovative viewing platforms in the digital era. As its evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential,” said Robert A. Iger, Chairman and CEO, The Walt Disney Company.
Hulu launched its premium subscription service, Hulu Plus, in 2010, which has now surpassed four million subscribers after more than doubling in 2012. Hulu achieved record revenues of $690 million that same year.
Hulu accepted final bids on 12 July from DirecTV, Chernin Entertainment along with AT&T and Guggeheim Partners (in conjunction with private equity firm KKR). Guggenheim withdrew from the process earlier this week.
Source: http://cablequest.org/news/new-media/item/2797-hulu-%E2%80%93-not-for-sale.htmlSource: http://cablequest.org/news/new-media/item/2797-hulu-%E2%80%93-not-for-sale.html
Source: http://cablequest.org/news/new-media/item/2797-hulu-%E2%80%93-not-for-sale.htmlSource: http://cablequest.org/news/new-media/item/2797-hulu-%E2%80%93-not-for-sale.html
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