Hulu.com may be getting ready to go public. Hulu2

Reuters reports the Web video service is preparing for an initial public offering and could file the prospectus with the Securities and Exchange Commission before the end of the year. Morgan Stanley is likely to lead the underwriters.

The IPO, notes Reuters, is one of several options under consideration as Hulu prepares for a growing battle with Netflix, Amazon, Apple and other companies. Other options reportedly include bringing additional media companies on board or raising more from existing partners.

Should the company move forward with the IPO plans, it reportedly hopes to raise between $200 million and $300 million. The deal would value the company at $2 billion. Assuming the Reuters numbers are right, that means the company’s value has doubled since its 2007 launch.

NBC Universal, Disney, News Corp. and private equity firm Providence Equity Partners all own a part of Hulu. The site features content from a variety of media properties, including Fox, NBC, ABC, Lionsgate, MGM and Warner Bros.

It has found remarkable success online, rising to become one of the Internet’s most popular streaming sites. Earlier this year, it announced plans for a premium service – Hulu Plus – which will charge users $9.99 per month and allow them to watch programming on a variety of devices, including the iPad, PlayStation 3 and Samsung Internet-enabled TVs and Blu-Ray players.

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