Time Warner Cable Inc. (TWC)’s talks to take a 25 percent stake in the video website Hulu LLC have been called off for now, a person with knowledge of the matter said.
While discussions may resume, nothing is planned, said the person, who asked not to be identified because the matter is private. Time Warner Cable was among the suitors for Hulu before its owners called off a sale this month.
Time Warner Cable, the second-largest U.S. cable system, continued to discuss a possible investment in Hulu alongside owners Walt Disney Co. (DIS), 21st Century Fox Inc. and Comcast Corp. (CMCSA)’s NBCUniversal. A stake in Hulu would bolster its high-speed Internet product and hedge against potential cable-TV cancellations. Hulu Plus customers pay $8 a month for on-demand programming. The three owners have agreed to invest $750 million in the website.
Bidders for Hulu included DirecTV (DTV), Peter Chernin and Guggenheim Digital. Reuters reported earlier on the breakdown of the most recent talks with Time Warner Cable.