TV Networks to Increase Hulu Stakes, as Providence Equity Sells
Providence Equity Partners is to sell its roughly 10-percent stake in web-video hub Hulu LLC to other Hulu shareholders for about $200 million, people familiar with the matter said.
Providence has a handshake deal with News Corp., which owns The Wall Street Journal and NewsCore, and Walt Disney Co., two other Hulu shareholders, for the sale, said the people.
They cautioned that a final agreement has not yet been signed.
It is not clear whether Comcast Corp., the other big Hulu owner, is participating in the buyout. Under conditions imposed when Comcast bought control of NBCUniversal last year, Comcast isn't allowed to be involved in the management of Hulu.