21st Century Fox FOXA, NBCUniversal and The Walt Disney Company DIS today jointly
announced that they will maintain their respective ownership positions in Hulu
and together provide a cash infusion of $750 million in order to propel future
growth.
Launched in 2008, Hulu is now a leading aggregator of premium online
television content from over 400 content partners, and has achieved more than
30 million monthly unique visitors.
“Hulu has emerged as one of the most consumer friendly, technologically
innovative viewing platforms in the digital era. As its evolution continues,
Disney and its partners are committing resources to enable Hulu to achieve its
maximum potential,” said Robert A. Iger, Chairman and CEO, The Walt Disney
Company.
“We believe the best path forward for Hulu is a meaningful recapitalization
that will further accelerate its growth under the current ownership
structure,” said Chase Carey, President and Chief Operating Officer of 21st
Century Fox. “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.”
Hulu launched its premium subscription service, Hulu Plus, in 2010, which has
now surpassed four million subscribers after more than doubling in 2012. Hulu
achieved record revenues of $690 million that same year.
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