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
What's Hot on Deadline
Venice Film Festival Sets Lido Launch For Aronofsky, Clooney, Del Toro, Payne & More As Awards Buzz Begins - Full List
James Franco & Maggie Gyllenhaal 1970s Porn HBO Series 'The Deuce': It's Not Misogyny, It's Business - TCA