Hulu Owners Cancel Sale
Give $750 Million Infusion to Keep Things As Is
Hulu owners Disney, 21st Century Fox and NBC Universal have decided to scrap the sale of the Internet video service
, deciding instead to give the company a large $750 million cash infusion to ensure that Hulu lives on. The sale cancellation suggests that Hulu's owners believed that bids for the service, many of which came from ISPs like AT&T, Dish, and Time Warner Cable, were too low (granted bids were too low because most bidders realized that after purchase they'd need to renew most of Hulu's expiring content licenses).
Keeping things as is certainly does little to fix Hulu's biggest problems: its cable and broadcast owners perpetually hamstring the company to prevent it from being truly disruptive
. That's why Hulu's core executive team left, and that's why Hulu will continue to be little more than a glorified ad for traditional cable television, no matter what kind of cash infusion gets thrown its direction.