Providence Equity Partners’ 10% stake in Hulu is close to being bought out by co-owners Disney and and News Corp, Bloomberg is reporting. The deal is for $200 million after the private equity group invested $100 million in 2007 and values the company at $2 billion, according to Bloomberg’s sources. If true, Providence will have pulled out its profit from the deal that it otherwise might have received via an auction that was scrapped in October due to low bids (. At the time, the was talk about taking Hulu public (a previous offering plan was put on hold), but there hasn’t been much chatter since.
Hulu Owners Eye Buyout Of Private Equity Partner: Bloomberg
Trending Now on Deadline
Global Showbiz Briefs: 'Top Gear' Hosts Attacked In Argentina Over License Plate; Samantha Glynne Named VP Branded Entertainment At FremantleMedia; More
More From Team
- Create Advertising Group Ups Carrie Gormley & Jonathan Gitlin
- Karen Pittman Joins 'The Americans'; Gloria Reuben In 'Mr. Robot'
- 'Below Deck' Renewed For Third Season By Bravo
- 'Shark Tank' Spinoff 'Beyond The Tank' Ordered At ABC
- 'Cold Justice' Spinoff Greenlit By TNT
- Hollywood Film Awards Sets 18 Categories