Hulu Owners Looking to Finalize Deal Within Two Weeks (Report)
The current owners of online video destination Hulu will sort through binding bids received last week and hope to finalize a deal in the next week or two, the Wall Street Journal reported.
One person familiar with the sales process told The Hollywood Reporter that a decision and announcement could come late this week, but that timing depended partly on finalizing content deals between the current owners and the winning bidder.
Representatives for Hulu and its various suitors declined to comment on details of the bids or the process late Monday.
Satellite TV giant DirecTV, AT&T and Peter Chernin's Chernin Group and THR owner Guggenheim Digital Media had all submitted binding bids by Friday, sources confirmed. The Journal, citing sources, reported that private equity firm KKR had joined the Guggenheim bid.
Time Warner Cable had previously offered to take a stake in Hulu, but it wasn't clear if it remained in the running.
Hulu's current owners are Rupert Murdoch's 21st Century Fox, Walt Disney and Comcast Corp.