Report: Providence Wants Out Of Hulu
One of Hulu's owners, media investment company Providence Equity Partners, is reportedly close to selling its 10% stake to the other three big owners. The report from Bloomberg says Providence, which invested $100 million in 2007 when the digital video platform was launched, is looking to get double its investment -- $200 million. The other major media owners of Hulu are Walt Disney, Comcast and News Corp.
For many analysts that means Hulu.com is worth some $2 billion. Reports suggest Disney, News Corp. and NBC Universal each hold Hulu stakes of about 27%, while Providence and Hulu employees own about 10% each. Last year, Hulu owners explored, than canceled plans of possible sale last year after previously putting off plans for an IPO.