The sale of internet streaming company, Hulu has been called off after an about turn by the current owners. The controlling companies Fox, NBCUniversal and Disney have decided to keep ownership and make further investment into the business.
Hulu made the announced on Friday and confirmed they will be investing $750 million to help the service, “propel future growth.”
The online streaming service had been receiving a number of bids from high rolling companies whilst up for sale. Companies including DirecTV, Tivo, Time Warner Cable and Yahoo had submitted bids of up to
The company had previously been put up for sale in 2011, but had withdrawn it after receiving lo-ball offers. The Hulu service offers free catch-up TV and older movies from ABC, Fox, NBC and other TV networks, alongside Hulu Plus which is a subscription service costing $8 per month, this service has around 4 million subscribers and offers full seasons and more content.
The $750 million investment is expected to be used to add more content from the existing 400 partners. Although the double sale and cancellation seems a bit farcical, one thing is for sure, Hulu cannot be put up for sale for a third time, can it?
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