Hulu Sale Shelved As The Streaming Website Gets Taken Off The Market
The proposed sale of streaming website Hulu is now dead in the water, so say the owners who have taken online video site off the market. In a statement issued, the owners which include News Corp, Comcast and Walt Disney Co. said they have had second thoughts because the site has “unique and compelling strategic value to its owners.”
Hulu sale officially off
The sale which was expected to bring in $2 billion, had gained interest from a host of big name internet and TV companies such as Amazon, Google and Yahoo, DirecTV and Dish Network.
The auction was hindered by lo-ball bids that made the sale an unattractive proposition, especially as Hulu revealed they have hit a million subscribers paying $8 monthly for streaming TV shows and movies, making the company a profitable concern. Hulu CEO, Jason Kilar stated that Hulu are all set to generate around $500 million in revenue this year, a rise from $263 million in 2010.
The owners of Hulu will now look to grow the company even more rather than going for the quick sale. They said that Hulu has intrinsic value and “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”. And they will be, “mapping out its path to even greater success.”
Hulu have been busy recently aquiring new content deals and expanding globally. Thety may have also read the report by Digital TV Research that online advertising revenues will increase sixfold by 2016.
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