[opendtv] Hulu Owners Call Off Sale, Instead Pledging to Invest to Take On Rivals

  • From: Monty Solomon <monty@xxxxxxxxxx>
  • To: undisclosed-recipient:;
  • Date: Wed, 17 Jul 2013 01:16:40 -0400

Hulu Owners Call Off Sale, Instead Pledging to Invest to Take On Rivals

By BRIAN STELTER
July 12, 2013

The owners of Hulu, having plotted a breakup twice now, have decided 
again to stay together - and as in many relationships of this sort, 
they are putting on a happy face and promising to work harder this 
time.

The three companies that mutually own Hulu - 21st Century Fox, the 
Walt Disney Company and NBCUniversal - said Friday that instead of 
selling the pioneering streaming video Web site, they would make a 
new investment of $750 million and use Hulu's technology to compete 
against other online distributors like Netflix. The announcement 
represented an anticlimactic end to months of sale speculation and 
disappointed bidders like DirecTV, that were prepared to pay about $1 
billion for the site.

The Web site's owners concluded, according to a person with close 
ties to the negotiation process, that the "equity value in the long 
run outstrips the sale value."

...

http://www.nytimes.com/2013/07/13/business/media/owners-of-hulu-call-off-sale-and-plan-to-invest-750-million.html

 
 
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