Matt Posted July 14, 2013 Report Posted July 14, 2013 The studios behind the Hulu video streaming service said that they are no longer looking to sell off the company.In a joint announcement, executives with 20th Century Fox, NBC Universal and Disney said that they have decided to pull the company off the markets and instead focus on raising new capital to help grow the company.The firms, which had been said to be entertaining offers to sell off the video service, will now instead seek to pump some $750m into Hulu in order to further grow its brand and extend its reach in the streaming video market.“We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure,” said 20th Century Fox president and chief operating officer Chase Carey.“We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they've built over the last few years.”Launched in 2008, Hulu had sought to provide a network-backed alternative video streaming service that would help to steer users away from illegal downloading. While the service has amassed an impressive video library and now offers a premium service, Hulu encountered roadblocks when in January of this year then-chief executive Jason Kilar resigned his position with the company.Among the firms rumoured to be considering a purchase of Hulu was resurgent web content broker Yahoo.Sursa V3.co.uk Quote
