Hulu Meets Bidders: Google, Yahoo, Other New Media

Hulu Meets Bidders: Google, Yahoo, Other New Media

Published: July 05, 2011 @ 1:46 pm
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By Sharon Waxman & Brent Lang

Hulu is meeting with potential buyers at Morgan Stanley’s Century City offices on Tuesday, TheWrap has learned.

Among the companies listening to Hulu's sales pitch will be Google, which has the money in hand to pay the streaming company's lofty asking price. 

Should Hulu sell, it will likely go for some multiple of the roughly $500 million the company will generate in revenues this year.

AllThingsD also reports that Verizon, AT&T, Yahoo, Microsoft and Amazon are expected to seek a look at Hulu’s financials.

The streaming service has been on the auction block for two weeks as partners Comcast, Disney and News Corp. weigh the merits of divesting themselves from Hulu.

Hulu engaged Morgan Stanley and Guggenheim Partners to explore a potential sale after receiving an unsolicited takeover overture. 

A deal is expected to be struck this month, according to an individual with knowledge of the process. 

Tags: company, Google, Hulu, Media, Microsoft, Morgan Stanley, sale, Yahoo
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Sharon Waxman's take on life on the left coast, high culture, low culture and the business of entertainment and media.

Follow me on Twitter @sharonwaxman and follow TheWrap @thewrap!

Sharon is also the author of two books, Rebels on the Back Lot and Loot.

 

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