Potential Sale For Hulu

A person familiar with the matter says the board of online video service Hulu has begun to explore options to sell itself after the company, now owned mainly by media companies, received an unsolicited offer.

The person said the offer was large enough for the board to consider and seek other potential bidders.

Hulu, which is jointly owned by The Walt Disney Co., News Corp., Comcast Corp.’s NBCUniversal and Providence Equity Partners, is preparing to hire bankers to start a formal search process. It provides television and other video content free and by subscription.

The person spoke on condition of anonymity because the discussions are confidential.

A Hulu spokeswoman declined to comment.

The development was earlier reported by The Wall Street Journal, which is also owned by News Corp.

 

Copyright 2011 The Associated Press.

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