Hulu Sale Off The Table -- Despite Billion-dollar Offers
The three owners of Hulu -- 21st Century Fox, NBCUniversal, and Disney/ABC -- have rejected all bids for the video site and will instead arrange for a $750-million loan to make it more competitive with YouTube and Netflix, according to published reports. (Speaking to reporters at the Sun Valley media moguls' conference, Disney chief Robert Iger said that the owners had decided to infuse it with the kind of capital necessary to grow it significantly and aggressively.) At least two suitors, DirecTV and AT&T had reportedly bid more than $1 billion for the website, but in the end, said 21st Century's Chase Carey, the owners decided to continue to empower the Hulu team ... to continue the incredible momentum they've built over the last few years. In the wake of the decision, Bloomberg News reported that the three owners are in talks to sell a 25-percent stake in Hulu to Time Warner.