Keeping up its reputation of going on and off the market and taking bids and then having none of them work out, video streaming service,Hulu, and its owners, have announced that the site is no longer for sale on the market.
USA Today reports Co-owners 21st Century Fox, NBC Universal and The Walt Disney Company have confirmed the popular website, noted for bringing current television shows and recent movies to users via the Web, is no longer up for sale.
Instead, the group is opting to dump $750 million into the service in order to facilitate its growth.
"We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match," says Chase Carey, president and chief operating officer of 21st Century Fox, in a statement. "But with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they've built over the last few years."
In the past few weeks, since Hulu was supposedly on the market, several companies emerged as potential buyers of Hulu, which airs programs from big networks like ABC, Fox and NBC as well as other cable television shows. Yahoo and DirectTV were among the most promising companies bidding for a chance to take on the growing site.
Video-streaming services are becoming a hot commodity as Netflix continues to be met with success as it sets the bar higher and higher with original programming like "House of Cards" and "Arrested Development: Season 4." The acquisition of Hulu would be a big step for any company who wants to throw its hat in with the video-streaming market as it will it the ground running with an already noted and popular brand name and user base.
