Media
Hulu Bidding Ends: Disney, NBC and 21st Century Fox Infusing $750 Million
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The fate of Hulu and the online media content has been up for grabs and many firms were reportedly interested in buying the asset. The problem is that the bidding was a very long process and valuing this asset was apparently no easy task. As a result, it turns out that the owners 21st Century Fox Inc. (NASDAQ: FOXA), NBCUniversal of Comcast Corp. (NASDAQ: CMCSA) and The Walt Disney Company (NYSE: DIS) have announced that they are going to maintain ownership positions in Hulu. The companies are also going to recapitalize Hulu with $750 million in new funding in order to foster future growth of the online television service.
The joint announcement confirms that the three owners will maintain their respective ownership positions in Hulu. It also confirms that they will provide a cash infusion of $750 million.
Hulu aggregates online television content from over 400 content partners. It also claims to have achieved over 30 million monthly unique visitors since it was founded in 2008. Hulu Plus, its premium subscription service, launched in 2010 and has grown to over 4 million subscribers. That is after more than doubling in 2012 with record revenues of $690 million.
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