Hulu has received binding bids from DirecTV, a partnership of AT&T and the Chernin Group and the team of Guggenheim Digital Media and KKR, The Wall Street Journal reported citing people familiar with the matter. At the same time, Bloomberg is reporting that Time Warner Cable offered to acquire a stake in the company. The deadline for final offers was last Friday. Hulu’s owners Fox and Disney want about $1B for the company. (Comcast also is a co-owner but relinquished control over Hulu’s affairs as a condition to win government approval to buy NBCUniversal.) A definitive agreement is expected to be reached with one of the suitors in the next week or two, a Journal source said. Conventional wisdom is that DirecTV remains the bidder to beat. It’s said to be interested in bundling Hulu with its pay TV packages as well as offering a stand-alone option. AT&T is understood to be intrigued by the possibility of making Hulu the centerpiece of a new wireless video business that would ask studios to help pay for costs to transmit video to mobile devices. Time Warner Cable, says Bloomberg, is eyeing an alternate route by seeking to become an investor alongside the current Hulu owners.
Reports: Hulu Bidders Include AT&T/Chernin, DirecTV; Deal Expected In Under 2 Weeks
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