Netflix Not Bidding for Hulu (Report)
Initial suitors included satellite TV giant DirecTV, Amazon.com, Google, Yahoo and Microsoft as the sales process is ready for its next phase.
NEW YORK - With initial presentations to potential suitors mostly completed, the sale of online video site Hulu, led by CEO Jason Kilar, is ready to enter its next phase, the Wall Street Journal reported on Monday.
Interested bidders will now examine Hulu's business in more detail, including content deals with its owners News Corp., Walt Disney Co. and Comcast Corp.'s NBCUniversal.
Among the initial suitors were Amazon.com, Google, Yahoo, Microsoft and satellite TV giant DirecTV, the Journal said, citing people familiar with the situation.
However, streaming video powerhouse Netflix, led by CEO Reed Hastings and a key Hulu rival, isn't in the running, according to the paper. Hulu's owners haven't wanted to sell to Netflix as the content giants prefer to make money by selling to as many competitors as possible.