Former News Corp prez bids $500 m for Hulu

Written by Agencies | Los Angeles/ New York | Updated: Apr 7 2013, 07:06am hrs
Former News Corp president Peter Chernin has bid around $500 million for Hulu, the online video streaming service he helped create in 2007, according to two sources with knowledge of Hulus sale process.

The website, jointly controlled by News Corp and Walt Disney, reached out to potential buyers in March after initially contemplating a deal in which one would buy out the other. It is not clear whether that transaction is still being contemplated.

Chernin, a former Hulu board member who now runs a media holding company, is among those interested, the sources said on condition of anonymity because the bidding is not public.