SHARING AMERICA'S TECH NEWS FROM THE VALLEY TO THE ALLEY
Hulu is getting a reputation as something of a tease. After pulling the company off the market for the second time, the streaming services has reportedly also ended negotiations with Time Warner Cable to assume a 25 percent stake in the company.
Co-owned by Walt Disney Co., 21st Century Fox and Comcast, the latter being a silent partner due to an agreement after acquiring NBCUniversal, Hulu has been wooing buyers for months, only to deny all interested parties any involvement whatsoever. According to a Reuters report, Hulu has ended talks with Time Warner Cable over pricing issues.
Hulu has been in need of cash to increase its content selection and improve its platform. After taking the company off the market, Disney, Fox and Comcast pledged $750 million in added funding to Hulu.
“Hulu has emerged as one of the most consumer-friendly, technologically innovative viewing platforms in the digital era,” said Walt Disney CEO Bob Iger in a recent statement. “As its evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential.”
Hulu Plus reported that it ended its first quarter with more than 4 million subscribers, comparable to Amazon Prime and trailing far behind Netflix. The company not only needs the cash to acquire more content from studios, but also to venture into the original programming that has provided Netflix with so much attention. It remains to be seen if the company’s three owners will be able to coordinate efforts to make this happen.
Thank you, TiA