Is Hulu A Takeover Target?
Hulu, the video site owned by the corporate parents of ABC, NBC, and Fox-TV as well as Providence Equity, may be the target of a possible takeover attempt by Yahoo!, published reports, led by the Wall Street Journal, said today (Wednesday). The Los Angeles Times reported that it had confirmed that an unsolicited offer had been received by Hulu but that spokespersons for each of the owners had declined comment. "It remains unclear whether its owners have any desire to sell," the Times observed. "The offer was large enough to make Hulu's board review The Deal and consider seeking other potential buyers," the Associated Press reported, citing another unnamed source. The website PaidContent.com said that it had "confirmed that Hulu management and owners are discussing a bid, as well as how best to explore other options, but that no formal board meeting has been held." Although Hulu CEO Jason Kilar has said that the company earned $260 million last year and is likely to double that figure this year, analysts have pointed out that most people wanting to stream television content are increasingly turning toward NetFlix and away from Hulu.