Friday, October 14, 2011
Hulu Aborts Sale Plans
The owners of Los Angeles-based video site Hulu have dropped plans to sell the business, according to a statement released by Hulu late Thursday evening. According to News Corporation, Providence Equity Partners, The Walt Disney Company, and Hulu's management team, the firm has decided to terminate the Hulu sale process. The firms--saying that Hulu "holds a unique and compelling strategic value" to the owners, and are looking forward to "working together to continue mapping out its path to even greater success."