Thursday, April 26, 2012

Private Equity Firm Set To Sell Hulu Stake, Says Report

A report today from Bloomberg says that Providence Equity Partners, the private equity firm which owns part of Los Angeles-based Hulu, is selling its stake to the firm's other owners in a deal valuing the firm at about $2 billion. Citing two people with "knowledge of the matter", Bloomberg said Providence had originally invested $100M in 2007, and will be paid $200M for its 10 percent share of the video streaming site. No details on the deal have been announced. Hulu's other owners are Walt Disney Co., Comcast Corp., and News Corp.