by Christopher Freeburn | May 16, 2013 10:53 am
Sources tell The New York Post that Time Warner Cable (NYSE:TWC) is discussing a possible partnership with other cable providers to acquire online TV and movie streaming platform Hulu.
Hulu, which is currently owned by broadcast companies, including Disney (NYSE:DIS), Comcast (NYSE:CMCSA) and News Corp. (NASDAQ:NWSA) has been looking for potential buyers. According to the sources, if the cable companies pursue a bid for Hulu, Comcast could retain its interest in the website. Under a deal with regulators, Comcast, which acquired its share in Hulu through its acquisition of NBCUniversal, is forbidden from having any say in its management.
Word of the possible deal comes as cable services are facing increasing competition from online video streaming websites like Netflix (NASDAQ:NFLX), Amazon‘s (NASDAQ:AMZN) Prime and Hulu.
The broadcast companies that currently own Hulu have also been introducing their own brand-specific streaming video platforms.
Last year, Hulu, which charges a monthly subscription fee for its premium service, generated revenue of $700 million. It posted an annual $30 million operating loss.
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