Video portal Hulu’s owners have started negotiations with a series of tech giants who are looking to buy it. Among them, there are Google, Microsoft and Yahoo! According to some reports, the sale would bring the current owners about 2 billion dollars.
The video-on-demand site is changing owners. Hulu, which is a joint venture between big names in the media industry, such as the Walt Disney Company, NBC Universal (Comcast/ General Electric), Fox Entertainment Group (News Corp.) and Providence Equity Partners, was first approached in late June, SF Gate says. NBC universal is the main shareholder, with 32% . Fox Entertainment Corp. owns 31%, Disney – ABC Television Group has 27% and Providence Equity Partners have 10%.
Elisa Schreiber, a spokesman for Hulu was contacted and asked to comment on the subject of the potential sale. She declined to reveal any information regarding the transaction of the company. The spokesmen for the potential buyers, Microsoft, Google and Yahoo!, would not comment on the matter, either.
The experts say that if Hulu were to be bought by any of the mentioned companies it would be improved. A new owner could equip it with a better monetary foundation.
Hulu was founded in March 12, 2008 and has its headquarters in Los Angeles, California. Its services cover the area of the United States and its overseas territories. It distributes video on its own website but also on other websites. It also allows its users to embed its videos in their websites. Hulu’s content includes programs from TV channels such as NBC, ABC, FOX, MSNBC, CNBC, MTV, VH1, Nickelodeon and National Geographic Channel, as well as a large number of movies. Since November 2009, Hulu is also distributing music. It signed partnerships with record labels in order to host music videos and concerts. Among the partners, there are EMI (since November 2009) and Warner Music Group (December 2009). Hulu can be followed on TV, on computers, on tablets or on smartphones.