Struggling Internet portal Yahoo recently approached Hulu about buying the company, but while the talks were described as "not meaningful" by sources close to the company, they apparently contained an offer substantial enough to pique the web catch-up sites interest.
A number of sources report Hulu, the joint venture between News Corp., Disney and Comcast's NBCUniversal, has hired Morgan Stanley to troll for more offers saying Yahoo's bid was "large enough to make Hulu's board review the deal" and look for other interested parties.
Hulu is one of the most-visited online video properties in the world, ranked sixth by Nielsen for unique visitors and first in terms of "stickiness," the amount of time viewers spend on the site (see related story).
It launched an $8 per month premium service last year; CEO Jason Kilar, who has banged heads with ownership in the past, said the site will have 1 million users by the end of the year, and forecast $500 million in revenue, $300 million of which will go back to the content partners.
- see this WSJ article
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