Facebook Eyes Hulu CEO Kilar
Facebook (NASDAQ: FB) has set its sights on Jason Kilar for a management position at the company. Currently, Kilar is the Chief Executive Officer at Hulu, and this move raises speculation as to the future of Facebook.
By bringing in an executive with experience in media streaming and television, Facebook may be indicating that it is looking to expand its product offering into these markets. Facebook has had large ambitions to enter the content distribution business, and bringing in Kilar could help the company diversify its businesses.
Prior to joining Hulu, Kilar was an executive at Amazon (NASDAQ: AMZN) and recently turned down the offer for the CEO position at Yahoo (NASDAQ: YHOO). Kilar has experience in video advertising, streaming, and content management, all skills that Facebook would need to successfully enter the competitive business.
Other companies have already staked claims in the online content distribution business. Major televisions networks set up Hulu to profit from online viewing of television shows. Netflix (NASDAQ: NFLX) is a household name in movie streaming, with users watching over 1.6 billion hours of video in June. Amazon recently started streaming video through its Amazon Prime service. Netflix is a subscription service and Hulu has both free and premium streaming (free streaming has advertisements), so it will be interesting to see how Facebook structures any new business line to compete.
Last week, Kilar declined to be considered for the Yahoo CEO position. However, now that his contract has expired at Hulu, he could be looking to move to a new company.
Facebook shares fell nearly 1 percent midday Tuesday to $31.82 per share.
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