Studios Call Off Hulu Sale, Will Invest $750M Instead

Law360, New York (July 12, 2013, 4:04 PM ET) -- After receiving offers from as many as seven different companies, 21st Century Fox, NBCUniversal, and The Walt Disney Co. announced Friday they had called off the sale of Hulu and will invest $750 million in the video-streaming site to “propel future growth.”

The announcement came a week after Hulu accepted final bids from three suitors to buy the site outright — DirecTV, a partnership of Chernin Group and AT&T Inc., and Guggenheim Digital Media, which dropped out of the running on Monday. Time Warner Cable Inc....
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