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Submitted: October 14, 2011 - 7:47am
Last updated: October 14, 2011 - 7:54am
Last updated: October 14, 2011 - 7:54am
Source:
Associated Press
Author:
Ryan Nakashima
Location:
Hulu, 12312 W. Olympic Blvd, Los Angeles, CA, 90064, United States
After months of being courted by technology giants and TV signal providers, online video service Hulu is no longer for sale.
The Walt Disney Co., News Corp., Comcast Corp. and Providence Equity Partners had been shopping the site since June after receiving an unsolicited takeover offer. They tested the waters for other interest, and dozens of companies, from Internet giants Google Inc. and Yahoo Inc. to satellite TV providers Dish Network Corp. and DirecTV, began circling. But the owners said in a joint statement that Hulu "holds a unique and compelling strategic value to each of its owners" and that they would refocus on "mapping out its path to even greater success." The owners decided collectively that it would be better to build out Hulu than sell it for a short-term gain.
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