The conglomeration of owners that is known as Hulu has once again backed out of the for sale market. The group – consisting of 21st-Century Fox, NBCUniversal and Walt Disney Company – have confirmed via press release they will once again take the streaming content service back off the market and re-invest to bring more customers.
This is not the first time Hulu has done this. Back in 2011, Hulu had a potential suitor where the deal was called off because the group wanted to re-invest.
“We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure,” said Chase Carey, President and Chief Operating Officer of 21st Century Fox. “We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they’ve built over the last few years.”
The co-owners of Hulu continued by saying they will be adding another $750 million into the service. This will go toward building a larger subscriber base.
Hulu started in 2008. They currently have content from over 400 partners, 4 million subscribers and 30 million monthly views.