Hulu’s Owners Said to Discuss Sale of Stake to Time Warner Cable
Owners of Hulu LLC are continuing talks to sell a stake in the video-streaming service to Time Warner Cable Inc. (TWC) after canceling an auction of the entire business, said three people with knowledge of the situation.
A deal could be reached within two weeks, said the people, who sought anonymity because the negotiations are private. Time Warner Cable had previously sought to acquire a 25 percent stake in Hulu, they said. Hulu’s owners, Walt Disney Co., Comcast Corp. and 21st Century Fox Inc., today called off plans to sell the service.
Meredith Kendall, a spokeswoman for Los Angeles-based Hulu, declined to comment. Maureen Huff at New York-based Time Warner Cable didn’t immediately respond to requests for comment after normal business hours.
Reuters reported the discussions with Time Warner Cable earlier.