/// Peter Chernin Wants Hulu, Too

April 5, 2013  |  All Things Digital


Add another former News Corp. executive to the list of people interested in buying Hulu: Peter Chernin, News Corp.’s former chief operating officer, wants the video site. Multiple sources say Chernin, via his Chernin Group holding company, has made a formal bid for the site, which is owned by Disney, Comcast and News Corp. (News Corp. also owns this site). Reuters , which first reported Chernin’s interest in Hulu, says he offered $500 million for the site; two years ago, when Hulu’s owner put the site on the block, they were looking for $2 billion. A source familiar with the bid says Reuters’ $500 million number is low; in any case, it’s likely to be the starting point for a negotiation, which would hinge on the licensing rights News Corp., Disney and Comcast would provide for the money-losing site, as well as what happens to the $300 million debt its owners have taken on in the last year. That is, if its owners decide to sell it. Though Hulu’s owners are talking to other would-be buyers, including Ross Levinsohn , the former News Corp. executive who once managed the site, News Corp.

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Peter Chernin Wants Hulu, Too


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