Exclusive - Former News Corp President Chernin bids $500 million for Hulu

[onehandle]

Source: Reuters

LOS ANGELES/NEW YORK (Reuters) - Former News Corp president Peter Chernin has bid around $500 million for Hulu, the online video streaming service he helped create in 2007, according to two sources with knowledge of Hulu's sale process.

The website, jointly controlled by News Corp and Walt Disney Co, reached out to potential buyers in March after initially contemplating a deal in which one would buy out the other. It is not clear whether that transaction is still being contemplated.

Chernin, a former Hulu board member who now runs a media holding company, is among those interested, the sources said on condition of anonymity because the bidding is not public. It is not known if other bidders have come forward.

Chernin left News Corp in 2009 to assemble The Chernin Group, whose holdings span film and TV production and owns stakes in high-tech companies, including online radio service Pandora Media Inc.

Read more: http://news.yahoo.com/exclusive-former-news-corp-president-chernin-bids-500-224501026--sector.html

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Uh...

[freshwest]

1. Probably going to mess Hulu up and that's a shame.

[onehandle]

2. Hulu has increased its ads by about 50% lately.

I would pay for a commercial free Hulu to skip the ads.

[freshwest]

3. They have a premium service that I don't subscribe to, perhaps it's ad-free.

[onehandle]

4. No. We have it. What it gets you is full seasons of current TV shows...

... up to several years worth, 'Classic' TV shows, and some movies.

Still commercials.

[freshwest]

5. At least the free Hulu allows choice of ads - although this Newscorp guy will likely

ruin Hulu into the ground for profit like they did MySpace. It became an difficult to use and the ads were impossible to avoid. The content turned it into a cesspool and I and the people I knew left it. I think they may get rid of my favorties as not being profitable enough for them.