Apparently, Hulu, the Internet video site that hopes to help people find and enjoy the world’s premium video content, isn’t selling after all. In a joint statement issued by Hulu owners News Corporation, Providence Equity Partners, The Walt Disney Company and the Hulu senior management team, the following was announced.
“Since Hulu holds a unique and compelling strategic value to each of its owners, we have terminated the sale process and look forward to working together to continue mapping out its path to even greater success. 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.”
Google was previously in preliminary talksto purchase the video content site, though this now appears to be off the table. Microsoft,Yahooand Amazon were also contenders in the buy-in, though Microsoft had previouslybowed outof the second round of bidding. The potential bids of buyers like the rumoredAppleare now defunct, with Hulu now losing out on the predicted $2B valuation.
While this does come as a surprise — especially with all of the rumors circulating around the sale over these past few months — Hulu doesn’t appear to be disturbed by the matter. As stated above, it is instead focusing on collaborating with its current owners to improve the service’s future.
Story bySherilynn Macale
Sherilynn “Cheri” Macale is based in San Francisco, CA. You’ll probably find her tucked away in her apartment blogging, playing video games,(show all)Sherilynn “Cheri” Macale is based in San Francisco, CA. You’ll probably find her tucked away in her apartment blogging, playing video games, or immersing herself in geek culture. You can follow her onTwitter,Facebook,Google+
Get the TNW newsletter
Get the most important tech news in your inbox each week.
