Say Hulu to online video joint venture
EmptyNEW YORK -- "Hulu." That's the long-awaited official name for News Corp. and NBC Universal's online video joint venture, previously known as Newsite.
The companies unveiled it Wednesday and also said the private beta for the site will be available in October.
In a statement on Hulu.com, Jason Kilar, the joint venture's CEO, said that the name, which is part of the name of two regions in Malaysia, has no particular significance.
Kilar wrote: "Why Hulu? Objectively, Hulu is short, easy to spell, easy to pronounce and rhymes with itself. Subjectively, Hulu strikes us as an inherently fun name, one that captures the spirit of the service we're building."
One source said that "Stash" was also considered as possible branding for the JV.
Announced in March, Hulu will bring News Corp., NBC and other professional video content to a stand-alone site as well as a network, which includes Time Warner's AOL, News Corp.'s MySpace, Yahoo and Microsoft's MSN. The site has also partnered with Comcast, Gemstar-TV Guide and CNET.
This month it was revealed that investment firm Providence Equity will invest $100 million into the venture. The firm also will have a 10% stake in the company as well as a board seat.
Last month, former Amazon exec Jason Kilar was named CEO of the venture.
Starting Wednesday, interested users can submit their e-mail address at Hulu.com to be included in an invite list for the private beta, also according to Kilar's statement.