Report: DIRECTV Bids $1 Billion Plus For Hulu
By Phillip Swann
TVPredictions.com
http://www.tvpredictions.com/hulu060213.htm
Washington, D.C. (June 2, 2013) - This story is an update to our earlier
coverage on the race to buy entertainment streamer Hulu.
DIRECTV and two unknown groups have bid more than $1 billion each to buy
the streaming entertainment service, Hulu, according to Reuters.
The Los Angeles Times and other news sources reported a week that seven
groups/individuals have made bids to buy Hulu, which now has more than
four million subscribers. Hulu's Hulu Plus, which costs $7.99 a month,
offers a mix of TV show episodes and movies online.
Hulu is owned by a consortium of NBC Universal, News Corp. and Disney
and Disney exec Anne Sweeney said at an industry conference last week
that there's no guarantees that they eventually sell the streamer
despite the bids. However, Reuters writes that the $1 billion plus
offers makes it more likely that a sale will be completed.
Several news articles last week said that Yahoo, one of the seven
reported bidders, was willing to pay between $600 million and $800
million. But if the Reuters account is correct, the three $1 billion
plus bids would seem to put them ahead.
The news service added that Hulu's owners will "whittle down" the list
of seven in the next two to three weeks.
For DIRECTV, Hulu would provide an online entertainment service that
would not only help it attract new subs but persuade current ones to
connect their set-tops to the Internet, which would help drive orders of
DIRECTV PPV movies.
And for Hulu's owners, DIRECTV has the deep pockets that would enable it
to continue paying handsome prices for content for Hulu from companies
such as NBC Universal, News Corp and Disney.
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