Hulu Officially For Sale: Disney, News Corp, and Comcast Look to Sell
One day after Hulu received an unsolicited acquisition offer from an as yet unknown potential buyer, the media conglomerates and private equity firms that created and own the streaming video site have hired Guggenheim Partners and Morgan Stanley (NYSE:MS) to help sell the popular internet property.
Hulu’s current owners include Fox Broadcasting Company owner News Corp. (NASDAQ:NWSA), Disney (NYSE:DIS), which owns ABC, NBC Universal, which is under the majority ownership of Comcast (NASDAQ:CMCSA), and Providence Equity. Lately Hulu has drawn criticism from cable and satellite companies that carry channels and broadcast shows that belong to Disney, News Corp., and NBC Universal because the site makes online streaming for many popular programs available 24/7 with limited commercials, thus taking away viewers from the more traditional viewing platforms. However, any deal to sell Hulu would likely include an agreement to continue to license premium content for online streaming on the site.