Hulu Sells Off Japanese Business

Los Angeles-based streaming television service Hulu announced late Thursday that it is selling its Japanese business to Nippon Television Network Corporation (Nippon TV). Financial terms of the deal were not disclosed. Nippon TV said it would use the acuqisition to enter into the subscription, video-on-demand business. Hulu had only launched services in Japan three years ago, in September of 2011. Hulu is jointly owned by NBCUniversal, 21st Century Fox, and The Walt Disney Company. According to the companies, Hulu will be licensing its brand and technology to a subsidiary of Nippon TV as part of the deal, and will also be providing support services and its underlying platform to Nippon TV to support the service.