Providence Equity Partners’ 10% stake in Hulu is close to being bought out by co-owners Disney and and News Corp, Bloomberg is reporting. The deal is for $200 million after the private equity group invested $100 million in 2007 and values the company at $2 billion, according to Bloomberg’s sources. If true, Providence will have pulled out its profit from the deal that it otherwise might have received via an auction that was scrapped in October due to low bids (. At the time, the was talk about taking Hulu public (a previous offering plan was put on hold), but there hasn’t been much chatter since.
By THE DEADLINE TEAM | Thursday April 26, 2012 @ 12:28pm PDTTags: Disney, Hulu, News Corp, Providence Equity Partners
For all of Deadline's headlines, follow us @Deadline on Twitter.
This article was printed from http://www.deadline.com/2012/04/hulu-owners-eye-buyout-of-private-equity-partner-bloomberg/