Providence to sell stake in Hulu for $200 million

AP News
Posted: Apr 26, 2012 7:38 PM
Providence to sell stake in Hulu for $200 million

A person familiar with the matter says Providence Equity Partners has agreed to sell its 10 percent stake in online video service Hulu for $200 million to other shareholders.

The person said the agreement was informal and a final deal had not yet been reached. News of the prospective sale was earlier reported by Bloomberg News.

Hulu's major shareholders include The Walt Disney Co., News Corp. and Comcast Corp.

A second person said that Comcast, which also owns a stake in Hulu through its subsidiary NBCUniversal, is not involved. Comcast was prevented from taking an active role in Hulu's affairs as a condition of its acquisition of NBCUniversal in January 2011.

Neither person was authorized to speak publicly about the matter and requested anonymity.