Around the Net

Hulu Readies For IPO

The New York Times, Monday, August 16, 2010 11:13 PM

Hulu, the joint venture of News Corporation, Disney and NBCU for online television and movies, aims to go public through an offering that could value the company at more than $2 billion, according to people briefed on the matter. But despite its status as a big player in online video, the company currently makes little in the way of profit. In May, it reported taking in more than $100 million in revenue last year, though it added that it was on track to make that amount again by the middle of this year.

It plans to add a $9.99-a-month subscription service soon alongside its core ad-supported business. Analysts say the move could build up its strengths against rival video-streaming services, like Netflix and a rumored update to Apple TV from Apple. An offering would be among the most significant developments for Hulu in its three-year history, which aimed to be a counterweight to YouTube and other free video sites.

Read the whole story at The New York Times »

television, web sites

Next story loading