Former News Corp. President Peter Chernin has bid around $500 million for Hulu, reports Reuters. Chernin helped create the online video streaming service in 2007, according to sources. Jointly
controlled by News Corp. and Walt Disney Co., the site made overtures to potential buyers in March. Chernin now runs a media holding company; it's not known whether other bidders have entered the
ring. Providence Equity Partners invested $200 million in The Chernin Group in April 2012. The Chernin Group owns a stake in Pandora Media, the online radio service.