Hulu, a major video streaming service, was recently looking for buyers. It had received bids from the likes of Time Warner Cable and DirecTV. Even Yahoo had been rumored to have put in a bid of over $600 million. The co-owners of this service, Walt Disney, 21st Century Fox and NBC Universal, have now confirmed through a press release that the service is no longer being sold. Instead they’ll be putting in a new round of funding to the tune of $750 million.
Had Hulu been sold, it was expected that the service would no longer offer next-day availability of prime time TV shows from NBC, Fox and ABC. Currently Hulu users can stream latest episodes the day after they air on their respective networks. Even back in 2011 when Hulu was up for sale it was reported that many prospective buyers had backed off due to concerns over access to content after the sale. The service hosts content from over 400 content partners and rakes in over 30 million unique visitors each month. The $750 million cash infusion, provided together by all co-owners, will help “propel” future growth of Hulu.