Chernin Wants To Buy Hulu At A Fire-sale Price
Former News Corp. president Peter Chernin has submitted an offer of about $500 million to buy Hulu, the video website co-owned by NBCUniversal, Disney/ABC, and News Corp/Fox, Reuters reported on Sunday, citing sources familiar with the situation. The offer amounts to about 25 percent of what the Hulu owners had been asking for the property in 2011 and about half what DISH Network had once offered to pay for it. The owners have wrangled between themselves and with founder/CEO Jason Kilar over the direction of the website virtually from its inception, concerned about the best way to attract viewers to its free service and subscribers to its premium Hulu Plus while at the same time preventing the two services from cannibalizing their syndication businesses. The streaming website offers mostly episodes of older television shows and classic movies.