Providence Sells Hulu Stake At $2 Billion Valuation

Jason Kilar Hulu

Providence Equity Partners, one of the original backers of Hulu, just sold its 10% stake in the company at a $2 billion valuation, Bloomberg reports.

Hulu is a joint venture between News Corp, Disney, and Comcast. Those stakeholders bought out Providence.

Providence bought its stake for $100 million in 2007.

Hulu’s owners explored selling the company last fall, but could not come up with bids approaching a $4 billion target.

The closest offer was a $2 billion offer from Dish Network.

When Hulu’s stakeholders turned down the $2 billion, they placated Providence with the promise of liquidity. Now that time has come.

We don’t know, but assume that Hulu’s executive team (including CEO Jason Kilar, above) cashed out a little bit in this transaction, too.

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