Hulu’s Final Bidders: DirecTV, AT&T + Chernin, Time Warner Cable
The ongoing Hulu sale saga, which has stretched on for a couple years, looks like it is finally winding down: The Web video site’s owners are now considering offers from two suitors that want to buy the company outright, and one that wants to buy a minority stake.
The remaining players: Satellite TV service DirecTV wants to buy all of Hulu, as does a partnership between AT&T and media executive Peter Chernin. And Time Warner Cable has offered to buy a minority stake in the video site, which is currently owned by Disney, 21st Century Fox and Comcast.
If you’ve been following the ins and outs of the Hulu sale, you’ll note that this list does not include Guggenheim Partners, which had also bid for all of Hulu last week. As CNBC reported earlier, Hulu’s owners informed Guggenheim executives today that they were no longer considering the investment company’s bid.
People familiar with the Hulu sale process tell me that Guggenheim had bid around $1 billion for the video site plus a package of programming rights that would extend up to five years.
I don’t know what the remaning bidders have offered for the company, but it may be telling that all of the players left in the game are already in the video distribution business.
What that means for the future of the service’s paid and free offerings won’t be clear for a while, but we should at least know who the winner is soon: Hulu’s sellers say they would like to finish up the sale process in the next couple weeks.