Jan 4 Hulu Chief Executive Jason Kilar will
leave the company during this quarter, he wrote in a blog post
on the company's website.
Kilar has long been rumored to be exiting the streaming TV
service as it faces stiff competition from Netflix Inc,
Amazon.com Inc as well as Google Inc and Apple
Hulu chief technology officer Rich Tom is also leaving,
according to the post.
Kilar, Hulu CEO since July 2007, last year steered the
company to $700 million in revenue and grew subscribers to 3
million. More than 200,000 new subscribers have signed up with
the service in the last seven days, he noted.
"My decision to depart has been one of the toughest I've
ever made," Kilar wrote on Friday. "The things that have
clearly brought the most joy to my heart (and what I believe to
be the most important inputs in our business) have been this
team and the values and principles we hold dear."
Still, the popular service, which started primarily as a free
site for people to catch up on television shows they might have
missed, has had a rocky path over the last five years.
Part of the problem stems from its complicated ownership
structure - media conglomerates Walt Disney Co, News
Corp and Comcast NBC Universal - and how much
content each should make available to Hulu.
The owners face a dilemma: The success of Hulu could
potentially eat away at its lucrative business of getting cable
companies to pay for programming. It is now building out its own
stable of original content exclusive to Hulu.
Indeed, in 2011 Hulu put itself on the block with suitors
including Google, Amazon, DirecTV Group and Dish Network
Corp, Reuters reported at the time. Talks collapsed
over the price of the deal.
Private equity firm Providence Equity Partners said in
October it had sold its 10 percent stake in Hulu to the
Kilar's name surfaced as a potential candidate for the top
job at Yahoo Inc after Scott Thompson resigned. Kilar
removed himself from consideration, he said in a statement from
Hulu did not announce who would take Kilar's place.