Hulu, an online tv alternative that streams current television shows, movies, and short clips, is trying to find itself a new owner. Company executives have recently met with Google, Microsoft, and Yahoo!, the original bidder.
Hulu, which is owned by a partnership between Walt Disney and News Corp, has had some recent outburst demonstrating it’s unhappiness with their current owners. Talks are underway now for licensing agreements for top shows such as Glee, Modern Family and The Daily Show with Jon Stewart.
Possible buyers have had an increasing interest with Hulu because it has been able to lure big advertisers, more than 600 and counting, resulting in over $500 million in revenue. Past comments from Hulu executives indicated its owners were not happy with the service, fearing that it would eat into its broadcast television ad revenue. What started out as a small project only a couple of years ago has ballooned into a major media distributor.
The net worth of the company is being pitched at $2 billion, similar to Netflix. Hulu’s financial advisers, Morgan Stanley and Guggenheim Partners, have been playing matchmakers recently, hoping to bid up the value of the company by arranging meetings with various media and publishing companies.
Speculation leads to the belief that it will ultimately be bought by Yahoo!, hoping to beef up its declining online market share since Microsoft has a similar competing product in development already and Google is facing anti-trust issues, making the search giant careful and cautious of new acquisitions.
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