Time Warner Cable May Buy 25% Stake in Hulu
Posted on July 12, 2013
Bloomberg is reporting that Hulu is in talks with Time Warner Cable. TWC would acquire 25% of a stake in Hulu, making it a partner with Walt Disney, Comcast and 21st Century Fox.
This latest news follows Hulu's announcement that it had canceled an auction. The Hollywood Reporter reports that Hulu canceled the auction despite a final bid of $1 billion from DirecTV. Hulu also said that $750 million would be invested into the site by its three current owners owners - 21st Century Fox, NBCUniversal and The Walt Disney Company.
Robert A. Iger, Chairman and CEO, The Walt Disney Company, said in a statement, "Hulu has emerged as one of the most consumer friendly, technologically innovative viewing platforms in the digital era. As its evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential."
Hulu launched its service and 2008 after a private beta test in 2007.