July 2, 2011

AP Source: Google among firms looking to buy Hulu

LOS ANGELES (AP) — Search giant Google Inc. is one of about a dozen companies involved in talks to potentially buy online video site Hulu, a person familiar with the matter said Friday. As the owner of YouTube, it would be a strategic buy for the Silicon Valley technology company, which has had a rocky relationship with Hulu's Hollywood owners.

Hulu has begun presenting its financial information to many prospective bidders, but it's too early to declare a front-runner, said the person, who spoke on condition of anonymity because the discussions are confidential.

The online video service began seeking bidders early last week after an unsolicited offer prompted Hulu's board to look for other interested parties.

Hulu streams movies and TV shows from broadcasters ABC, Fox and NBC to personal computers and, for a monthly fee, to a range of Web-connected devices. The company is owned by the broadcasters' parents, The Walt Disney Co., News Corp., and Comcast Corp., along with Providence Equity Partners. In February, Hulu CEO Jason Kilar said Hulu will have 1 million paying customers by the end of the year and generate nearly $500 million in revenue, up from $263 million in 2010. He has said the company is profitable.

Google's own attempt last year at launching a service that streamed Web content onto television sets, Google TV, was met with a blockade by broadcasters that continues to this day. People using personal computers can see recent shows on Hulu for free with ads, but those trying to access them through Google TV aren't able to. Hulu does not allow viewers to watch its shows on mobile devices or through television sets unless users subscribe to Hulu Plus, an $8-a-month plan that offers access to a broader catalog of material.

More

About the Author

Iwebslog Labs

Author & Editor

Has laoreet percipitur ad. Vide interesset in mei, no his legimus verterem. Et nostrum imperdiet appellantur usu, mnesarchum referrentur id vim.

Post a Comment

 
Iwebslog Blog © 2015 - Designed by Templateism.com