Hulu puts itself up for sale

Hulu is putting itself up for sale.

The popular online television site, which has been the cause of much consternation in Hollywood, has retained investment banks Guggenheim Partners and Morgan Stanley to facilitate a potential sale. Prospective bidders have received notice that the sales process would begin in about two weeks. The news comes a day after it was revealed that Hulu had received an unsolicited acquisition offer and that Web portal Yahoo has expressed interest in potentially acquiring it. Yahoo has not yet made a formal bid, said a person with knowledge of the situation. By signing up the investment banks, however, Hulu is making clear that it is not just on the receiving end of interest. Rather, its owners -- News Corp., Walt Disney Co., NBCUniversal parent Comcast Corp. and Providence Equity -- are seeking to exit the company three years after it launched.