, which is on the verge of posting record first-quarter revenue and subscriber additions, is reportedly reaching out to buyers to see if there's any interest in an acquisition. As the story goes, Hulu's board hasn't decided if a buyout is in the company's best interest, but it's certainly an option that's on the table and currently being explored.
According to Reuters
, which reported hearing about the potential buyout from "three sources close to the company," no formal offers have yet been made to owners News Corp and Walt Disney. Another option being explored is that one of the owners will buy out the other
and take full control of Hulu.
The challenge News Corp and Walt Disney face in finding an outside suitor for Hulu is convincing a buyer to take on a streaming company saddled with mostly short-term contracts. That casts a cloud of uncertainty over the profit potential, especially since big media still feels threatened by the streaming movement.
Hulu currently has more than 3 million subscribers
and generated revenue of around $700 million last year, up 65 percent from 2011. The streaming service can be accessed from moer than 320 million Internet connected devices, not including laptop and desktop computers.