AT&T Mulling Joint Hulu Bid With Peter Chernin6 Jun, 2013 By: Erik Gruenwedel
Telecommunications behemoth AT&T reportedly is discussing joining former News Corp. COO Peter Chernin in a joint bid for Hulu and subscription video-on-demand unit, Hulu Plus.
Hulu, which is co-owned by The Walt Disney Co., News Corp. and Comcast, was recently put back on the block for private sale — the second time for the online content aggregator since 2011.
Chernin, who reportedly has submitted a $500 million bid through his Chernin Group media company, would substantially up the bid with AT&T on board.
The telco, which sells broadband and pay-TV bundles through its U-verse platform, would likely use Hulu to expand its presence in the competitive SVOD market currently led by Netflix, according to AllThingsD.com, which first reported the partnership, citing sources close to the negotiations. AllThingsD is owned by News Corp.
Other interested parties and bidders include Yahoo, DirecTV, Time Warner Cable and Guggenheim Partners.
Hulu Plus ended the first quarter with 4 million subscribers.