Hulu has made a second deal to keep primetime TV series on its site the day after episodes air on TV, this time with Walt Disney Co.’s ABC.
Sources indicate that Hulu has a tentative pact in place with the broadcaster similar to the one it struck with News Corp.-owned Fox Broadcasting that was first reported by Variety.
Exact terms of the deal are not known, but it is believed to be a multiyear agreement. That could bolster Hulu’s efforts to find a buyer given holding on to its huge catalog of TV shows will be crucial to retaining the venture’s value.
Earlier this week, Morgan Stanley and Guggenheim Partners were identified as the banks that would help facilitate the sale of Hulu.
Disney and News Corp. own Hulu along with Providence Equity Partners and NBCUniversal, which may have its deal automatically renewed for NBC content given conditions to which parent company Comcast agreed for clearance of its acquisition of the conglom. The conditions stipulated that NBCU could no longer have a seat on the Hulu board and had to go along with whatever content deals to which its fellow owners agreed.
Deal terms that could determine Hulu’s value include the amount of advertising embedded in each episode and the exclusivity of programming.
News was first reported by Bloomberg. Disney and Hulu declined to comment.