Technology

Report: Chernin Bids $500 Million for Hulu

Former News Corp. president bids for streaming service he helped create, according to Reuters 4/05/2013 08:05:01 PM Eastern

Peter Chernin is reportedly willing to pay
$500 million for Hulu, according to a report from Reuters.

The
former News Corp. president had helped set up the service in 2007.

Reuters
noted that the website "reached out to potential buyers in March" after
initially contemplating a deal in which either Disney or News Corp. would buy
each other out. The two have not been able to agree on a strategy for Hulu's
future.

A
third owner Comcast does not have a say in operations as a result of the
conditions imposed as part of its acquisition of NBCUniversal.

The
Reuters report noted that "it is not known if other bidders have come forward."

After
leaving News Corp. Chernin set up The Chernin Group, which has holdings in
number of different types of media.

Hulu declined to comment on the report.

 

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