Hulu no longer up for sale

The online video service Hulu has decided to withdraw offers after announcing it was up for sale in June.

Hulu’s partners News Corp, Walt Disney and Providence Equity Partners issued a statement on Thursday last week (13 October) saying that they see more value in retaining the company rather than selling it off.

The free ad-supported version of Hulu attracts more than 26 million visits a month and this summer saw the Santa-Monica based company reach a record of one million subscribers worldwide.

Rumoured to have approached Hulu were internet giants Google Inc, Yahoo Inc and satellite TV distributor Dish Network Inc, but as negotiations went forward there were disagreements about whether the owners should sell such a valuable asset.

The owners released a statement following the news that Hulu had been taken off market: “Our focus now results solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting time that lies ahead for Hulu.”

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