Online Video Service Hulu Debuts

LOS ANGELES,
October 29: The online video service Hulu, a joint venture between News
Corporation and NBC Universal, has launched in private beta, offering viewers a
selection of streaming, on-demand programming on a free, ad-supported basis,
and has also received a $100-million investment from a private equity firm.

Hulu also
closed a $100 million investment from private equity firm Providence Equity
Partners, a global private equity firm specializing in media, entertainment,
communications and information companies.

Hulu content
includes full-length current and archived television programming as well as
clips and an initial selection of feature films.

It has signed
new licensing deals with Metro-Goldwyn-Mayer Studios (MGM) and Sony Pictures
Television. A collection of over 40 television shows from Sony will be made
available at Hulu.com, while MGM will provide full-length television shows and
feature films.

Hulu will also
offer content from two broadcast networks (FOX and NBC), more than 15 cable
networks (Bravo, E! Entertainment, FX, SCI FI, USA, and more), four of the
largest studios (Fox, MGM, Sony and Universal) and a broad array of
independent, “web-centric” content providers. In addition, Hulu announced
content partnerships with Reveille, Smithsonian Networks, and World Wrestling
Entertainment.

The beta
period will give users an opportunity to test the service and provide feedback
that will help shape the Hulu service. To sign up for the private beta, viewers
can go to www.hulu.com. Consumers will also be able to access content from Hulu
via its network of distribution partner websites: AOL, Comcast's Fancast.com,
MSN, MySpace and Yahoo! Each distribution partner features a unique, customized
video player, ensuring a seamless viewing experience on all of their sites.
Additionally, users can embed videos throughout the web, including on their own
sites.

“We’re excited
to bring a wide selection of popular content to fans, on-demand and free—from
full episodes and clips of hit shows like Heroes, House, The Office, and The
Simpsons, to feature films like The Blues Brothers and Sideways,” said Jason
Kilar, the CEO of Hulu. “The launch with our distribution partners as well as
our beta is an important first step in delivering a service that lets people
enjoy their favorites, anytime, anywhere.”

"Consumers
are clearly interested in easily accessing a broad spectrum of
programming," said Peter Chernin, the president and COO of News
Corporation. "As a single source of free, on-demand programming from some
of the most popular studios and online networks, Hulu helps consumers quickly
and easily find and enjoy the premium content they are looking for."

“NBC Universal
is excited to give consumers the flexibility to enjoy our most popular shows
online when, where and how they want,” said Jeff Zucker, the president and CEO
of NBC Universal. “Hulu’s clean and crisp destination site, broad distribution
network, and embeddable video player make for a powerful combination and will
provide substantial reach to consumers online.”

—By
Irene Lew