Providence to sell stake in Hulu for $200M
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.