Hulu, Streaming Service | featured news

Hulu has hired Guggenheim Partners to advise on a sale of the company, even as the financial services firm is considering making its own bid for the video streaming service, three sources with knowledge of the matter told Reuters.

Former News Corp president Peter Chernin bid around $500 million for Hulu, the online video streaming service he helped create in 2007, according to two sources with knowledge of Hulu's sale process.

Disney and News Corp. have begun discussions about resolving uncertainty over online video site Hulu, with one possible outcome being that one or the other sells their stake.

Hulu Chief Executive Jason Kilar will leave the online video service in the first quarter, he disclosed Friday in a blog post.

Hulu, the privately held Internet streaming TV service, will generate about $695 million in revenue in 2012 and finish the year with more than 3 million paying subscribers, the company's CEO said on Monday.

The news is surprising because for a long while now this has been a lousy economic climate to do any initial public offering.

After months of being courted by technology giants and TV signal providers, online video service Hulu is no longer for sale, its media company owners said Thursday. The Walt Disney Co., News Corp., Comcast Corp. and Providence Equity Partners had been shopping the site since June after receiving an unsolicited takeover offer.

The auction of online video site Hulu has been slowed by recent developments which could derail it completely, according to sources familiar with the process.

Hulu, the online video service that primarily shows reruns from major broadcasters, is getting into the business of original programming.

A new Nielsen survey finds that in the battle between screens, Netflix users are opting for TVs and Hulu users are siding with computers.