Hulu.com Valued at $2 Billion in Deal to Buy Out Providence Equity for $200 Million

Bloomberg reports that Hulu.com's owners are buying out their venture capital partner, Providence Equity Partners Inc. Walt Disney Co., Comcast Corp. and News Corp. are buying Providence's 10% stake in the venture for $200 million, according to Bloomberg's sources.

Providence invested $100 million in the company in 2007. The reports say Hulu.com is now being valued at $2 billions. As part of the deal, employees will be able to sell some of their shares and cash out. Hulu says it now has 2 million subscribers to Hulu Plus who pay $8 a month for the service.

Hulu is currently working on expanding its roster of original programming in a bid to get more advertisers.