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Ex-News Corp President Peter Chernin Bids $500 Million for Hulu (Report)

The Associated Press, Friday, April 5, 2013, 4:13pm (PDT)

The Hollywood Reporter -- Former News Corp. president Peter Chernin has submitted a $500 million bid for streaming video website Hulu, Reutersreported.

The company is a joint venture between Disney and News Corp. A stake sale valued Hulu at a reported $2 billion in 2012.

Hulu CEO Jason Kilar, who had been with the company for five years, announced his resignation at the beginning of the year. Andy Forssell, senior vp content, was named acting CEO at the end of March.

In early March, The Wall Street Journal reported that News Corp. and Disney were having talks about having one company sell a stake to the other. Disney is said to favor a free approach to streaming video while News Corp. favored a paid subscription service, according to the Journal report.

The Reuters report notes that it "is not clear" whether this buyout possibility is still under discussion.

Related article on THR.com:

Hulu Says Andy Forssell Will Become Acting CEO

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Find more online: THR.com

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