Topics

Ross Levinsohn

Hulu sale is canceled; owners double down on the video site

Hulu sale is canceled; owners double down on the video site

The Hulu divorce has been called off. After months of fielding offers from would-be buyers for the popular online video site, owners 21st Century Fox Inc., Walt Disney Co. and NBCUniversal decided Friday to cancel the sale. Instead, they said, they will invest $750 million in Hulu so it can better compete against Netflix Inc., Amazon.com Inc. and other Internet streaming services. This is the second time in less than two years that Hulu's owners put it on the block only to take it off again. Although Hulu's parents have not always been on the same strategic page regarding the platform, none was willing to part with it. PHOTOS: Hollywood Backlot moments "It's...

Loading