Former News Corp. president wants Hulu for $500 million, says report
Peter Chernin, who's also a former Hulu board member, wants to buy the video-streaming service he helped launch, Reuters reports.
Former News Corp. President Peter Chernin wants to buy Hulu for about $500 million, Reuters reported today.
Unnamed sources told the news service of Chernin's interest in the video-streaming site. Chernin, a former Hulu board member, helped create Hulu in 2007. He left News Corp. in 2009 to start The Chernin Group, which owns other media companies, such as Pandora Radio.
News Corp. and Walt Disney, which currently own Hulu, were said to have reached out to potential buyers in March.
Providence Equity Partners, one of the Chernin Group's investors, sold its 10 percent stake in Hulu last year for $200, valuing the service at $2 billion.