21st Century Fox, NBCUniversal, and the Walt Disney Company announced today that they are no longer looking to sell Hulu. Instead, they will inject the streaming video company with a combined $750 million in new funding.
After Hulu’s former CEO Jason Kilar and CTO Rich Tom stepped down from their positions in March, its parent companies put the company up for sale. A number of interested parties were rumored to have put in bids for the company, including Yahoo, DirecTV, and Time Warner Cable.
“We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they’ve built over the last few years,” said Chase Carey, president and chief operating officer of 21st Century Fox, in a press release.
Hulu had previously been put up for sale in 2011, but the three companies decided to retain ownership back then as well.CC