Streaming video service Hulu is up for grabs, only if you make the right offer. According to a source the company has received numerous offers from companies interested in purchasing the Netflix competitor, up to $1 billion dollars. Details about the Hulu bidding rumors below.
Hulu, as of late has been receiving numerous bids for it’s unique video streaming services. An inside source discovered that DirecTV and two other bidders have offered more than $1 billion apiece to buy Hulu. Owners News Corp and Walt Disney Co have been trying to sell the video streaming service since 2011 but it appears a deal is likely to close very soon.
According to Hulu board members, the company has received over seven buyout offers in the past week and considerable offers are being looked over for the next two to three weeks. Guggenheim Partners is advising the company on finalizing the deal.
It was not revealed which two other companies other than DirectTV offered $1 billion for Hulu but a joint offer was received from Yahoo, former News Corp president Peter Chernin, private equity firm KKR, cable operator Time Warner Cable, Guggenheim Digital, and Silver Lake Management and talent agency William Morris Endeavor Entertainment.
Both DirecTV spokesman Darris Gringeri and Hulu spokeswoman Meredith Kendall declined to comment on the possible deal offers.