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Hulu reportedly hires firm to assist with sale

Published Apr 18th, 2013 11:00PM EDT
Hulu reportedly hires firm to assist with sale

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A new report suggests that online movie and TV streaming service Hulu may be looking to sell. According to Reuters, Hulu, which is a joint venture between ABC and Fox, has hired financial services firm Guggenheim Partners to advise the company on a potential sale. Hulu had previously hired the firm in 2011, however it was unable to find a buyer that was willing to pay the $2 billion asking price. In addition to advising the company, Guggenheim Partners is said to be interested in making a bid for Hulu, which may pose a conflict of interest. The firm created a separate Guggenheim Digital Media unit in January that is headed by former Yahoo CEO and News Corp executive Ross Levinsohn, who is reportedly interested in a deal with the company. In 2012, Hulu generated revenues of around $700 million from more than 3 million premium subscribers.

Dan joins the BGR team as the Android Editor, covering all things relating to Google’s premiere operating system. His work has appeared on Fox News, Fox Business and Yahoo News, among other publications. When he isn’t testing the latest devices or apps, he can be found enjoying the sights and sounds of New York City.