Disney CEO Bob Iger, Fox CEO Rupert Murdoch Explain Why They Didn’t Sell Hulu

"The future of Hulu is bright," Iger told Bloomberg. "If the future of Hulu is bright, we should hold onto it."

Last Updated: July 24, 2014 @ 11:59 AM

Disney CEO Bob Iger and Fox CEO Rupert Murdoch both predicted a bright future for Hulu on Friday, the online video company they announced they would not be selling — after several months of soliciting offers.

Both moguls are the Allen & Co. conference in Sun Valley, Idaho, where some expected a deal for Hulu might close. Instead, the two moguls found reporters hounding them about the deal that wasn't

Murdoch told Jessica Lessin Fox had wanted to keep Hulu all along, but Disney wavered.

Iger (left) said that Disney and Fox concluded that in spite of "compelling offers on the table, the future of Hulu is bright."

"If the future of Hulu is bright, we should hold onto it," Iger told Bloomberg.

Murdoch echoed that sentiment, telling Variety that News Corp. could be "a hell of a good business."

The two parties have long disagreed about the future of Hulu, but Iger said "the interests of News Corp. and Disney galvanized during the process."