Hulu Off the Auction Block

LOS ANGELES: After months of talks, the owners of Hulu have decided against the sale of the online content site.

News Corporation, Providence Equity Partners, The Walt Disney Company and the Hulu senior management team said in a statement late yesterday: “Since Hulu holds a unique and compelling strategic value to each of its owners, we have terminated the sale process and look forward to working together to continue mapping out its path to even greater success. Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu.”

Reports indicate that the sale of Hulu could have generated up to $2 billion for its owners. Those cited as potential buyers included Yahoo!, Google and Apple.