By all accounts, Hulu is a pretty decent service. It sucks that you have to watch ads even with a Hulu Plus subscription, but it’s oftentimes the only place to watch the latest TV shows whenever you want. It’s the kind of service that companies would want to own, but its current owners aren’t letting go just yet.
Disney, 21st Century Fox and NBCUniversal announced today that they are taking Hulu off the market. The three had been previously searching for a buyer to take the service off of their hands, but they ultimately decided it was in their best interest to retain ownership. As part of this decision, the three owners have also agreed to pump $750 million into Hulu.
“We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure,” said Chase Carey, President and Chief Operating Officer of 21st Century Fox. “We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they’ve built over the last few years.”