Hulu is no longer for sale, owners say
LOS ANGELES (KABC) -- Hulu is no longer up for sale.
After months of being wooed by several potential buyers, the media companies that own the popular Website said it is off the market.
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.
In the end, the owners decided to hold on to it and try to build it up instead.
Hulu said last month it had more than a million subscribers who pay $8 a month for a deep catalog of TV shows, less than a year after launching the premium tier last November.
CEO Jason Kilar has said Hulu is on track to make around $500 million in revenue this year, up from $263 million in 2010, and that the company is profitable.
Disney is the parent company of ABC7.
The Associated Press contributed to this report.
technology, television, business
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