Hulu is looking for a buyer and one of the companies that might be bidding is Guggenheim Digital Media, run by former Yahoo executive Ross Levinsohn, reports Ronald Grover at Reuters.
That’s ironic because, rumour has it, back in 2011, when Levinsohn was an exec at Yahoo, Yahoo tried to buy Hulu for about $2 billion.
Hulu, the TV Internet streaming service jointly controlled by Disney’s ABC and News Corp’s Fox network, says it has more than 3 million subscribers paying $7.99 a month for its premium service. It generated about $700 million in revenue last year, it says. But it also had about $330 million in debt and lost about $30 million per quarter last year, the Wall Street Journal reported.
Last month Hulu CEO Jason Kilaran left the company and Andy Forssell took over. His departure wasn’t a surprise. After many rumours about it, Kilar announced in January that he would leave at the end of the first quarter.