Nobody Buys Hulu.com, Sale Called Off
In a statement from News Corporation, Providence Equity Partners, The Walt Disney Company, as well as the Hulu senior management team:
”Since Hulu holds a unique and compelling strategic value to each of its owners, we have terminated the sale process and look forward to working together to continue mapping out its path to even greater success. Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu.”
It always seemed to me that Hulu.com was an uneconomic deal at the prices and terms being bandied about in the media (assuming those were near to reality), and that the only companies likely to bite were those who’d do a stupid deal to deflect from their current business model failures (I’m looking at you Yahoo and AOL).
Apparently the size of that purchaser market turned out to be zero.