Dive summary:
- Joint owners of Hulu—21st Century Fox, NBCUniversal and The Walt Disney Company—announced they are taking Hulu off the market.
- Hulu is still attractive property bringing in 30 million unique monthly visitors and $690 million in revenue from paid subscribers and advertisers, and instead of selling, the owners plan to invest $750 million into the property.
- Rumored among the bidders were Yahoo, DirecTV, Time Warner Cable, the Chernin Group/AT&T and Adweek parent Guggenhein Digital, and the now-canceled sale had some brands concerned about changes to advertising on the site.
From the article:
“'We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they’ve built over the last few years,' said Chase Carey, 21st Century Fox president and COO, by way of announcing the decision."
