Hulu Bids Due Next Week (Report)
Initial bids for Hulu are due early next week, AllThingsD reports citing people familiar with the company.
The streaming services owners (a group that includes Disney, Comcast, News Corp., and Providence Equity) are reportedly asking for bids of at least $1.5 billion.
Hulu has been on the auction block since last June, with potential bidders such as Google, Yahoo and Microsoft circling the online video platform.
Hulu engaged Morgan Stanley and Guggenheim Partners to explore a potential sale after receiving an unsolicited takeover overture this summer.
Hulu is expected to generate $500 million in revenues this year, making it an attractive target for any tech or media company eager to establish a foothold in the streaming sector.Related Articles: CEO Jason Kilar Is Contract-Less as Hulu Seeks Buyer Hulu CEO Bites Networks' Hands: 'Traditional TV Has Too Many Ads'
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