August 25, 2009 / 12:11 AM / 10 years ago

ITV close to equity deal with Hulu-paper

LONDON, Aug 25 (Reuters) - Britain’s largest free-to-air broadcaster ITV (ITV.L) is weeks away from signing a deal with Hulu, U.S. video-on-demand venture, to syndicate its content in exchange for equity in the company, the Daily Telegraph said on Tuesday.

Hulu, co-owned by General Electric Co’s (GE.N) NBC Universal, News Corp (NWSA.O) and Walt Disney (DIS.N), is now in advanced discussions with ITV and an announcement on the terms of the arrangement was due “within weeks,” the paper said.

“Hulu has been in talks with all the major British broadcasters, but has made the most progress with ITV,” the newspaper quoted a source close to the negotiations as saying.

“It (Hulu) has offered each broadcaster the chance to take equity in the company in exchange for full-length programme rights,” the Telegraph said.

Hulu and ITV were not immediately available for comment. (Reporting by Humeyra Pamuk, Editing by Leslie Gevirtz)

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