Hulu Won’t Sell; Current Owners to Invest $750 Million

Hulu Won't Sell; Current Owners to Invest $750 Million(Ping! Zine Web Tech Magazine) – Bad news for those top companies mulling a bid for Hulu: It’s not for sale.

The popular video streaming service is currently owned by a partnership of companies including NBC Universal, Fox Broadcasting and Disney.

“We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, commented 21st Century Fox President Chase Carey, according to a report from USA Today.

Carey continued, “But with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they’ve built over the last few years.”

In May, a report from All Things D cited unnamed sources, noting that web giant Yahoo! was offering between $600 to $800 million for Hulu. Another possible buyer included DirecTV.

In wake of the latest decision not to sell, Hulu’s current owners will invest another $750 million towards the increasingly popular streaming service.