Hulu's board of directors is mulling whether to sell the company as it strives to renegotiate deals with content owners.
According to stories by both The Wall Street Journal and Bloomberg, Hulu's board was approached with an unsolicited offer from an as-yet-unnamed buyer, although The Los Angeles Times previously reported that Yahoo was kicking the tires.
With Comcast's NBCUniversal, Walt Disney and News Corp. jointly owning stakes in the company, Hulu is currently serving many masters, although it has benefitted from striking content deals with its owners.
Hulu was first launched in 2007 by NBC Universal and News Corp., while Disney picked up its share in 2009, which added ABC content to Hulu's fold.
Providence Equity Partners invested $100 million in Hulu in 2009, and in return it was granted two seats on its board.
In an effort to increase revenues over its ad-based model, Hulu kicked off its subscription-based Hulu Plus service a year ago.
Hulu could be considering a sale as a way to line its coffers to pursue more content deals in order to compete against other streaming video companies such as Netflix.
Hulu considered an initial public offering last year, but in the end it decided not to pull the trigger.