Hulu to Receive As Many As 5 First-Round Bids

From DailyTech: We learned just a few months ago that Hulu had placed a "for sale" sign on its store window, and now, the video streaming subscription service site is to receive about five first-round bids.

Earlier this year, Hulu, which is owned by Walt Disney Co., News Corp., Comcast Corp. and Providence Equity Partners Inc., was working to renew licensing agreements in order to increase its value on the open market. In June, Fox Broadcasting Co. renewed its licensing agreement, which brought shows like "Family Guy," "Glee," and "The Simpsons" back to Hulu. With such agreements in its back pocket, Hulu had something to offer subscribers and could finally have a shot at attracting a buyer.

Hulu went up for sale in late June, almost immediately after Yahoo approached Hulu about a possible acquisition, yet Hulu wasn't ready to sell at that point.

Now, Hulu is to receive as many as five first-round bids where each offer included terms for programming rights. Bid prices are still unclear, but the Wall Street Journal expects that bids will range between $500 million and $2 billion.

Among those who have prepared bids for Hulu are Google, Yahoo, Amazon and DISH Network.

Hulu's owners will grant the winner five years of rights to TV shows, which includes two years of exclusivity. According to Chase Carey, chief operating officer of News Corp., the sale process is trucking alone right on schedule.

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