Hulu staying put with current owners, getting $750M shot in the arm

Summary:The near future for the online streaming service looks steady once again.

There have been rumors and reports for months about potential ownership changes at Hulu. They're being put to rest today.

See also: Aspen Ideas Festival: Is Twitter bringing back the live TV experience?

The coalition of 21st Century Fox, NBC Universal and The Walt Disney Company issued a statement on Friday reasserting their current ownership positions.

Here's an excerpt:

“We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure,” said Chase Carey, President and Chief Operating Officer of 21st Century Fox. “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.”

The ownership team is also giving the online video service a $750 million shot in the arm to propel more growth.

Launched back in 2008, Hulu has already grown to an ecosystem comprised of more than 30 million monthly unique visitors and roughly 400 content providers on tap.

With Netflix achieving similar (and paid) subscriber figures and experiencing a renaissance in popularity thanks to the success of its original content (see: House of Cards), the pressure is on for Hulu to innovate and compete.

Perhaps that is why there has been a firestorm over the last few months about another entity taking over Hulu to give it a new direction.

Along with big entertainment names such as DirecTV and Time Warner Cable, even Yahoo was in the mix following its $1.1 billion acquisition of Tumblr.

Given CEO Marissa Mayer's obvious penchant for buying up tech services with significant social and mobile elements, the Hulu-Yahoo idea wasn't terribly outlandish, to say the least.

Nevertheless, the future of Hulu as far as leadership is concerned is solid for the time being.

Topics: Tech Industry, Cloud, Social Enterprise, Developer


Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider,, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for, Irish Americ... Full Bio

zdnet_core.socialButton.googleLabel Contact Disclosure

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.