Providence to sell stake in Hulu for $200M

Fri, 04/27/2012 - 3:08pm
The Associated Press

A person familiar with the matter says Providence Equity Partners has agreed to sell its 10 percent stake in online video service Hulu for $200 million to other shareholders.

The person said the agreement was informal, and a final deal has not yet been reached. News of the prospective sale was earlier reported by Bloomberg News.

Hulu's major shareholders include The Walt Disney Co., News Corp. and Comcast.

A second person said that Comcast, which also owns a stake in Hulu through its subsidiary NBCUniversal, is not involved. Comcast was prevented from taking an active role in Hulu's affairs as a condition of its acquisition of NBCUniversal in January 2011.

Neither person was authorized to speak publicly about the matter and requested anonymity.


Share This Story

You may login with either your assigned username or your e-mail address.
The password field is case sensitive.