Hulu Plans to Shrink Its Board
Hulu LLC is planning to shrink its board, according to people familiar with the matter, shaking up the Web-video venture’s governance as it hashes out its future within the media business.
As part of the shift, Walt Disney Co. Chief Executive Bob Iger and News Corp. Chief Operating Officer Chase Carey may give up their board seats, the people said, potentially distancing the two men from day-to-day decision-making at the Web-video joint venture.
The move to a smaller board is an attempt to streamline operational decision-making within the venture, one of the people familiar with the plans said. Hulu’s board until recently has included 12 members, according to a list on its website, including three each from three media companies that have at times differed on strategic direction. It remains unclear how many people would remain on the board under the plan being discussed.
Hulu declined to comment. A spokesman for Disney and a spokeswoman for News Corp. also declined to comment.
Hulu is jointly owned by News Corp., NBCUniversal, Disney, Providence Equity Partners and Hulu employees. News Corp. also owns The Wall Street Journal (and All Things Digital).