Hulu sale proceedings have gone on for several months, but is there an end in sight?
The Business Insider Reports that Dish Network outbid other contenders Amazon and Yahoo with a $1.9 billion offer. It also claimed Google bid a whopping $4 billion for Hulu, but it was asking for more content for a longer period of time. Hulu's owner's are not sure they want to agree to this.
Google allegedly made a big push to snap up Hulu, even flying CEO Larry Page down to Los Angeles to advocate for his company in person.
But Hulu’s owners (News Corp, Disney, and Comcast) aren’t satisfied with the offers submitted, and they’re currently deciding how to proceed, the Business Insider said. They were reportedly holding out for a bid of more than $2 billion for the terms it had established. Hulu has not confirmed it, but it is said to be selling both Hulu and Hulu Plus as well as rights to exclusive content on the platforms for two years.
Bidders, however, balked when they learned that Hulu’s owners plan to pull their free content from Hulu when their contracts expire in a few years. That would mean a new owner would have to draw up new agreements with content partners, which prompted the potential buyers to offer less.
So what’s going to happen with Hulu? The Business Insider speculated that Google will end up winning out over the other companies, but it’s possible that even this late in the game Hulu’s owners haven’t come to a consensus on selling.
Disney CEO Bob Iger said over the this summer that he’s committed to a sale, but All Things D reported earlier this month that News Corp CEO Chase Carey has suggested that his company might consider holding onto its shares. Comcast gave up its right to have a say in the process when it acquired NBC Universal.
Hulu has been tight-lipped about the acquisition, and it’s unclear if, and when, an actual buyer will be announced.