We don’t tend to cover rumors here on WebTVWire, mainly because a lot of them turn out to be absolute bunkum. But the speculation that Hulu may be up for sale and that Yahoo is a potential buyer is simply too good a story to ignore.
Hulu For Sale?
According to The L.A. Times, Hulu is up for sale, with its owners News Corp., Walt Disney, Comcast, and Providence Equity actively seeking a buyer. Investment banks Guggenheim Partners and Morgan Stanley have been retained to facilitate a potential sale.
People “familiar with the matter,” which essentially means an inside source or two, has stated that prospective bidders have been given notice that the sales process will begin in two weeks time. Neither Hulu or the two banks have issued statements regarding this speculation.
The suggestion that Hulu has officially been put up for sale came a day after the news broke that Yahoo had tendered what was described as an “unsolicited offer” to purchase the company.
Yahoo hasn’t confirmed or denied this, but TechCrunch is claiming the Yahoo angle is complete BS. Michael Arrington has his own source denying what another source is telling the Wall Street Journal and others. So the water is being muddied with every conversation.
But Why, Hulu, Why?
Why would its owners be selling Hulu at this juncture? After all it was only last year that the company was being prepared for a $2 billion IPO. Have things really gone downhill so badly since then?
I can only assume this potential desire to sell is because the media giants who own the company want different things. The problem for any potential buyer, be it Yahoo or otherwise, is that those companies provide the content. Would they really sell the company while still supplying the very thing that makes it worthwhile?
This is one story which will slowly unravel over a matter of weeks or even months. And we won’t know the whole truth until the companies involved actually announce their official intentions. In the meantime everything has to be taken with a pinch of salt.