The group of companies that own Hulu, the darling of online entertainment, might not sell the property after all.
Bidders have dropped out, and some bids have reportedly been too low.
Currently, the online streaming video property is jointly owned by Disney, News Corp., Comcast and Providence Equity. Last June, the ownersdecided to put Hulu , citing disagreements on the direction the service should take.
If the sale doesn’t go through, it is unclear exactly what path Hulu will take, given the aforementioned disagreements. However, the venture will be investing around $375 million in acquiring new content this year.
Bidding was expected to start at $1.5 billion and ranged up to $2 billion. Reported bidders included Dish Network, Google, Yahoo, Amazon and DirecTV. The latter company withdrew from the contest early last month after bidding too low.
To many observers, Amazon seemed like the perfect fit, but so far, the highest bidders for the service were reportedly Google and Dish Network, whose offers ranged between $1.9 billion and $4 billion.
Hulu’s revenue totals around $500 million, according to its Q2 2011 progress report.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more