Hulu Sale Is Called Off, Again
Hulu is no longer up for sale, after 21st Century Fox, NBC Universal and Walt Disney Co. said Friday that they will maintain ownership of the platform after all. They had received bids reaching about $1 billion but struggled to find the right balance between promising enough content after a sale and protecting their own traditional businesses.
The three media conglomerates will also provide cash infusion of $750 million in order to propel future growth, they said in a statement.
“We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure,” Chase Carey, president-chief operating officer of 21st Century Fox, said in a statement. “We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team in this fashion to continue the incredible momentum they’ve built over the last few years.”
