×
You will be redirected back to your article in seconds

Hulu Suitors Down to Final Four

Short list of bidders comprises DirecTV, AT&T and Chernin Group, Guggenheim and KKR, Time Warner Cable, according to reports

The final bids are in for Hulu, with the Internet TV site’s owners now sitting down to sort through four offers — from DirecTV, AT&T and Chernin Group, Guggenheim and KKR, and Time Warner Cable — according to industry sources and published reports.

Hulu’s triumvirate of owners, Walt Disney Co., 21st Century Fox and Comcast, have received proposals from DirecTV, AT&T and Chernin Group, and Guggenheim Digital Partners in conjunction with private-equity firm KKR, The Wall Street Journal reported Monday. The value of the bids is unknown.

The Hulu owners are expected to make a decision on the sale within the next two weeks, sources said.

Time Warner Cable is still in the bidding, according to a source close to the negotiations. But the cable operator is seeking to buy a stake in Hulu instead of purchasing the whole entity, an outcome that’s unlikely, given Disney and  21st Century Fox’s desire to extricate themselves from the venture.

SEE ALSO: In Hulu’s Future, There Will Be Less Broadcast TV

DirecTV is seen as the leader of the pack, according to multiple industry sources. The satcaster at least in part would use Hulu to extend or reinforce its pay-TV business, as a standalone “virtual cable TV” subscription service or as a way to deliver programming to DirecTV subscribers over the Internet (or both).

Those previously in the hunt for Hulu were Amazon.com, Yahoo and a tag team of WME  and Silver Lake. Originally the final binding bids were due June 28, but the deadline was extended to July 5.

(Rachel Abrams contributed to this report.)

SEE ALSO: Hulu’s Executive Exodus Accelerates

More Biz

  • Doug Davis and Jodie ShihadehVariety Power

    Jodie Shihadeh Named Partner at The Davis Firm

    Jodie Shihadeh has been named Partner at The Davis Firm, PLLC. She joined the firm in 2011 and rose from associate to Managing Attorney and now partner. She graduated from Boston College and received her law degree from Fordham University School of Law in 2011. While still in law school she interned in the Business [...]

  • Peak TV Saturation TV Placeholder

    Nickelodeon Alum Keith Dawkins Sets Kidvid Partnership With Believe Media Group

    Former Nickelodeon executive Keith Dawkins has partnered with Believe Media Group to develop children’s programming. Dawkins will partner with Believe under his newly formed Rock Hill Media Ventures, which aims to advise companies in media, entertainment and sports on working with diverse and emerging talent. Dawkins previously spent 17 years at Viacom, most of which [...]

  • CBS Studios Exterior

    CBS Credit Union Manager Pleads Guilty to $40 Million Fraud

    The manager of a credit union for CBS employees pleaded guilty in Los Angeles federal court on Monday to a $40 million embezzlement scheme. Edward Rostohar, 62, was arrested in March after the scheme began to unravel. According to prosecutors, he admitted to stealing money from the bank for the last 20 years. Rostohar is [...]

  • Norman Reedus as Daryl Dixon - The

    CAA's Packaging Fee Becomes Flashpoint in 'Walking Dead' Litigation

    The issue that is at the heart of the WGA’s present standoff with talent agencies has flared up as a source of tension in the litigation between AMC Networks and Frank Darabont and CAA over profit participation on “The Walking Dead.” The practice of talent agencies receiving packaging fees for helping to assemble the creative [...]

  • Sony Music to Deliver ‘Real Time’

    Sony Music to Deliver ‘Real Time’ Data, Royalty Payments to Artists

    Sony Music today announced two new payment features for its artists — “Real Time Royalties” and “Cash Out” — through its artist portal beginning this fall. 

A memo sent to artists Monday morning and obtained by Variety says  the initiatives will “allow our artists and royalty participants to view and withdraw earnings faster than ever [...]

  • Whitney Houston

    Whitney Houston Estate Plans Hologram Tour, Album, Musical

    In the seven years since Whitney Houston’s death, there has been relatively little of the asset-exploitation that usually follows the passing of a music icon, apart from a smattering of previously unreleased recordings, a pair of harrowing documentaries and a lot of unflattering press. But according to an article in the New York Times, the [...]

  • rocketman-elton-john-costume

    Elton John Biopic 'Rocketman' Taps Lucky Brand Collaboration as Part of Promo Push

    Paramount has set a May 28 release date for its Elton John-inspired clothing collection with retailer Lucky Brand, which celebrates the performer’s iconic style and new biopic, “Rocketman” (see tickets and showtimes here). The limited-edition collaboration arrives in stores three days before the film hits theaters, though it’s available for purchase right now on LuckyBrand.com. [...]

More From Our Brands

Access exclusive content