Hulu Looking For Potential Buyers, Split From Disney and News Corp
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.