Hulu Has High Bidder
Business Insider, Tuesday, September 27, 2011 12:57 PM
Hulu has decided to sell to... ? Well, no one yet, but the video co-venture has received its highest (unconditional) bid from Dish Network, reports Business Insider, citing two sources. How much did the satellite TV provider offer? $1.9 billion, BI reports. Google reportedly bid in the range of $4 billion, but, as BI notes, will all sorts of special conditions.
Specifically, "Google wanted more content for a longer period of time, and perhaps other concessions as well," BI explains. "Rumor has it that Larry Page personally flew down to Los Angeles to make Google's case." So, what are Hulu's owners waiting for? According to BI's sources, "They were hoping for a higher bid, and were disappointed that no company would offer more than $2 billion with the conditions they set."
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Specifically, "Google wanted more content for a longer period of time, and perhaps other concessions as well," BI explains. "Rumor has it that Larry Page personally flew down to Los Angeles to make Google's case." So, what are Hulu's owners waiting for? According to BI's sources, "They were hoping for a higher bid, and were disappointed that no company would offer more than $2 billion with the conditions they set."
The problem, however, is likely that the TV companies that own Hulu want to phase out free ad-supported content completely. "So as soon as the current set of Hulu contracts expire in a couple of years, it would be back to the negotiating table," BI speculates.
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