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| Streaming media provider Hulu terminates sale process |
| Friday, 14 October 2011 00:00 |
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US-based streaming media service Hulu is no longer set to be sold, the brand's owners have announced.
A statement released by News Corporation, Providence Equity Partners, The Walt Disney Company and the Hulu senior management team has confirmed the termination of the company's sale process. The announcement said the decision has been taken due to the "unique and compelling strategic value" offered by the brand, with the owners now set to move ahead with new growth strategies for Hulu. Founded in 2007, the company offers streaming video content from more than 260 providers and has recently enjoyed success with the launch of its Hulu Plus subscription service, as well as its Japanese market debut. Bids for the company were placed by the likes of Amazon, Yahoo! and Dish Network, with Google also rumoured to have been mulling a major offer last month. However, these sale plans have now been curtailed, with the Hulu statement saying: "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." Posted by Kevin Smith  |