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After months of speculation and various billion dollar bids from the likes of Google, Amazon, Dish Network and Yahoo the owners of Hulu have decided not to sell the popular TV and movie streaming website.
In a joint statement regarding their decision Disney, News Corp., Providence Equity Partners and Hulu’s senior management said:
“Since Hulu holds a unique and compelling strategic value to each of its owners, we have terminated the sale process and look forward to working together to continue mapping out its path to even greater success.” The companies involved go on to state, “Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu.”
Hulu first considered selling the service when Yahoo approached them in June.
While Yahoo, Amazon and other content companies offered $1.5 to $2 billion and Google offered more than $4 billion (with longer exclusivity terms) the sites owners decided that the web property was ultimately too valuable to their overall broadcasting strategies and promptly closed the sale.
With the digital video landscape constantly changing and Hulu riding that wave of digital success it shouldn’t come as a surprise that a deal couldn’t be reached at this time.
