Hulu is no longer for sale. NBCUniversal, Disney and Fox have all decided to call off their second attempt to sell off the video streaming service.
The Wrap reports that during this second attempt, the companies fielded offers from Yahoo, DirecTV and others, but they wouldn’t accept any offer under $1 billion. An insider told The Wrap that DirecTV was the most aggressive. Still, Fox, Disney and NBCUniversal made the “strategic decision” to not sell.
One big sticking point was that the three owners wanted to hold back certain ABC, NBC and Fox shows from the website. They also reportedly wanted to keep new shows from being posted until 30 days after they aired.
According to The Hollywood Reporter, the three companies have decided to invest $750 million in Hulu instead of selling it off.
“Hulu has emerged as one of the most consumer friendly, technologically innovative viewing platforms in the digital era,” Disney CEO Bob Iger said in a statement. “As its evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential.”
Hulu, which has over 75,000 episodes from 2,500 shows, is available for free and as a monthly subscription service called Hulu Plus. Free Hulu only gives access to certain current shows on computers, while the paid service gives full access to movies and shows on mobile and streaming devices as well.
image: Hulu