You will be redirected back to your article in seconds

AT&T May Team With Chernin to Bid for Hulu

Telco latest to enter auction for Internet TV service, according to report

The field of bidders for Hulu remains in flux, with AT&T now said to be in discussions with Chernin Group, led by former News Corp. COO Peter Chernin, to enter a joint proposal to acquire Internet TV site Hulu.

The telco is considering teaming up with Chernin Group, which first threw its hat into the Hulu ring earlier this spring, according to a report by AllThingsD, citing anonymous sources. Reps for AT&T and Hulu declined to comment.

Others in the running include DirecTV, Time Warner Cable, Yahoo, Guggenheim Partners and private-equity firms KKR and Silver Lake Partners, which is pairing up with talent agency WME.

Two of Hulu’s owners — Walt Disney Co. and News Corp. — are seeking to exit the business, which they see as strategically misaligned with their own interests. According to sources close to Hulu, News Corp. and Disney are hoping to reach an agreement on the sale process within the next eight weeks.

The third owner, Comcast’s NBCUniversal, is prohibited from exercising any management decisions regarding Hulu under the government’s conditions for the cable company’s takeover of NBCU.

Reports have cited varying price tags in the current bids for Hulu, ranging from $500 million to $1 billion. According to sources familiar with the situation, the differences are due to the terms of the content rights for News Corp. and Disney/ABC that prospective buyers are seeking.

In any case, the prices being floated are less than the $2 billion Hulu’s owners reportedly sought in 2011 (even setting aside NBCU’s interest).

More Digital

  • Ted Sarandos

    Netflix Plans to Release 80 Original Films in 2018

    The field of bidders for Hulu remains in flux, with AT&T now said to be in discussions with Chernin Group, led by former News Corp. COO Peter Chernin, to enter a joint proposal to acquire Internet TV site Hulu. The telco is considering teaming up with Chernin Group, which first threw its hat into the […]

  • tbh

    Facebook Acquires Anonymous Teen Networking App tbh

    The field of bidders for Hulu remains in flux, with AT&T now said to be in discussions with Chernin Group, led by former News Corp. COO Peter Chernin, to enter a joint proposal to acquire Internet TV site Hulu. The telco is considering teaming up with Chernin Group, which first threw its hat into the […]

  • Netflix Reed Hastings

    Netflix Adds 5.3 Million Subs in Q3, Beating Forecasts

    The field of bidders for Hulu remains in flux, with AT&T now said to be in discussions with Chernin Group, led by former News Corp. COO Peter Chernin, to enter a joint proposal to acquire Internet TV site Hulu. The telco is considering teaming up with Chernin Group, which first threw its hat into the […]

  • Alyssa Milano

    #MeToo: Social Media Flooded With Stories of Sexual Harassment and Assault

    The field of bidders for Hulu remains in flux, with AT&T now said to be in discussions with Chernin Group, led by former News Corp. COO Peter Chernin, to enter a joint proposal to acquire Internet TV site Hulu. The telco is considering teaming up with Chernin Group, which first threw its hat into the […]

  • Discovery, Germany’s ProSieben Launch Streaming Service

    Discovery and Germany’s ProSieben Launch Free Streaming Service in Germany

    The field of bidders for Hulu remains in flux, with AT&T now said to be in discussions with Chernin Group, led by former News Corp. COO Peter Chernin, to enter a joint proposal to acquire Internet TV site Hulu. The telco is considering teaming up with Chernin Group, which first threw its hat into the […]

  • Worshipers pray on the hills overlooking

    Vice Launches Full-Scale Operation in Sub-Saharan Africa

    The field of bidders for Hulu remains in flux, with AT&T now said to be in discussions with Chernin Group, led by former News Corp. COO Peter Chernin, to enter a joint proposal to acquire Internet TV site Hulu. The telco is considering teaming up with Chernin Group, which first threw its hat into the […]

More From Our Brands

Access exclusive content