This Hot Media Company is Off the Chopping Block
The Walt Disney Co. (NYSE:DIS), News Corp. (NASDAQ:NWSA), Comcast Corp. (NASDAQ:CMCSA) and Providence Equity Partners had been shopping the Hulu site since June, but it is no longer for sale, its media company owners said Thursday.
CEO Jason Kilar has said Hulu is set to make around $500 million in revenue this year, up from $263 million in 2010, and that the company is profitable. Hulu said last month it had more than a million subscribers who pay $8 a month for a large selection of TV shows, less than a year after launching the premium tier last November.
“Despite lagging far behind online video sites like YouTube in terms of monthly visitors, Hulu viewers watch more ads than patrons of other sites. Hulu accounted for nearly a billion of the 5.7 billion ads viewed in the United States in August, the most of any entity, according to tracking firm comScore Inc.,” according to Yahoo Finance.