Verizon Looked at Buying Hulu

The telecom giant's CEO at a UBS conference also commented on a report that Verizon was planning an online streaming service that could rival Netflix.

NEW YORK - Telecom giant Verizon looked at buying Hulu before its entertainment conglomerate owners ended an auction this fall, Verizon CEO Lowell McAdam said here Wednesday.
"We looked at [Hulu]" and other alternatives, he told the UBS Global Media and Communications Conference, adding: "We continue to look at alternatives."

Predicting that there would be a place for broadband, or over-the-top, video offerings, he also commented on a Reuters report that Verizon was planning a new streaming video service that could take on Netflix. "That's all just speculation," McAdam said.

Over-the-top services are likely a complementary offer to traditional pay TV services, such as Verizon's FiOS TV, the CEO echoed others at the UBS conference. And he said Verizon hopes to be "a player to help determine" its future.

Via its recent wireless spectrum deal with Comcast and Time Warner Cable, Verizon and its partners can "tie in to that by streaming" things, he said without providing further details.


Twitter: @georgszalai