Hoping to strike gold twice, Hulu investor and private equity firm Providence Equity Partners plans to invest $50 million in a new online video business controlled by Chinese-owned Baidu. China's
top search engine operator said its plans to take a majority stake in the venture, which, like Hulu, will serve as a platform for professionally made video and accompanying advertising.
Along with Providence, News Corp., NBC Universal, and the Walt Disney control Hulu stateside. For the Chinese version, Baidu said it will used licensed video content, although it is not clear if the operator has any existing content partnerships in place.