Hulu’s owners have stopped trying to sell the company.
In a terse statement, the company’s owners 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. 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.”
We reported several weeks ago that Hulu was reconsidering the sale after the first round of bids came in disappointingly low. Satellite TV distributor Dish had the highest bid, at $1.9 billion, but Hulu wanted at least $2 billion. Google bid higher — up to $4 billion — but wanted concessions that Hulu wasn’t prepared to offer.
Hulu is owned by News Corp, Providence Equity Partners, and Disney.
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