Hulu Investor Providence Sells Stake!

Hulu Investor Providence Sells Stake!

Providence Equity Partners has sold its stake of Hulu for $200
million. Providence, which put $100 million in the venture and
gained a 10% stake in the company in 2007, acted on its option
to cash in and receive double its investment and the buy-out
was first announced in April. Hulu is now controlled solely by
its media partners, NBCUniversal, Fox and Disney. The sale
puts the future of content on the site in question; according
to a memo leaked from Hulu in August, changes to a number of
content licensing agreements are to come – though specifics
are unknown.

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