Original URL: http://www.theregister.co.uk/2011/10/10/yahoo_pulls_out_on_hulu/
Hulu still flirting with suitors despite Yahoo! pull out
Premature exit as Yang considers own future
Posted in Media, 10th October 2011 21:42 GMT
Agentless Backup is Not a Myth
Yahoo! is believed to have pulled out of negotiations to acquire Hulu, leaving Dish, Google and Amazon all still vying for the asset.
The Wall Street Journal reports [1] that Hulu's powerhouse owners are still mulling over the merits of selling.
Hulu is owned by News, Walt Disney, Comcast/NBCUniversal and private equity firm Providence Equity Partners. Following Yahoo’s drop-out, satellite-TV broadcaster Dish has emerged as the most likely bidder. According to WSJ speculation, Dish put in an initial bid of $US1.9 billion but has recently reworked its offer. Google has estimated Hulu’s value at around $US1.5 billion to $US2 billion.
Yahoo’s withdrawal from the process was prompted by its own ownership crisis as its bankers, Allen & Co and Goldman Sachs, pursue a strategic review.
As reported [2] by The Register yesterday, Yahoo! co-founder and former CEO Jerry Yang has indicated that he wants to take the ailing web company out of the stock market in a deal with private equity firms.
Meanwhile, Chinese outfit Alibaba has emerged as a mooted bidder [3] for Yahoo! in partnership with Silver Lake and Russian Web firm Digital Sky.
Speculation has emerged that Yang wants to hold on to his 3.63% stake while going back to private investment. A new unlisted entity would have interesting implications for its JV's around the world. It would reshape the landscape of the Seven Network's tie-up in the Yahoo!7 tie-up. ®