UPDATE: At Least Seven Bidders For Hulu

By | Saturday May 25, 2013 @ 10:30pm PDT

UPDATE: The last time Hulu was in play, it was 2011 and an auction sale went nowhere. And before that, in 2010, an IPO was contemplated but not pursued. So I’m somewhat skeptical about a successful outcome this time around. A Read More »

Comments 28

Chase Carey Says News Corp Will “Do What’s Necessary” To Grow Hulu: UBS Confab

You wouldn’t know that the Hulu auction was a failure based on the way News Corp COO Chase Carey describes the owners’ plans. They decided to hang on to the digital video service because its value to them “dwarfed some of the values that were being put on it” by bidders including Dish Network and Google. Keeping Hulu reflects “a judgment that this digital space is incredibly important and is going to be, over the next five years and beyond, the most important field we have to navigate.” As a result, he told the UBS Annual Global Media and Communications Conference, “we’ll do what’s necessary to make it grow.” But that doesn’t necessarily mean adding movies to the package to make it more competitive with Netflix. ”Me-toos aren’t a great place to be in this business,” Carey says. “We want to look at it with a fresh eye.”

Investors strangely seemed uninterested in the News Of The World hacking scandal. But one of the consequences — News Corp’s decision to abandon its effort to buy BSkyB — was a concern. Carey says that it’s “one of the things we have to figure out” because he says the company gets ”a fraction of credit” it believes it deserves for its 39% stake in the UK media company. News Corp must ”do a better job communicating value.” Still, he didn’t leave investors empty-handed: Carey says that News Corp’s recently launched round of share repurchases is “certainly not a one-time thing. It’s an important part of our capital allocation,” he said, adding that News Corp shares are ”woefully undervalued.” Read More »

Comments (2)

Hulu Bid Deadline Extended To Friday

By | Thursday August 25, 2011 @ 8:49am PDT

First we heard last Friday, then we heard yesterday. Now the deadline for companies to make a bid in the auction for Hulu is Friday, with Yahoo, Google and Amazon among those looking closely at the online streaming video … Read More »

Comments (2)

Hulu Bids Expected To Reach $1.5 Billion

By | Friday August 12, 2011 @ 9:37am PDT

News Corp COO Chase Carey said during the company’s conference call Wednesday that the ongoing Hulu auction is “progressing largely as planned,” but for the most part streaming-video site co-owners News Corp, Disney, Comcast and Providence … Read More »

Comments (1)