New York – Hulu, the online video portal joint venture
between NBC Universal (NYSE: GE), News Corp. (NYSE: NWS) and Disney (NYSE: DIS), is in talks with potential
underwriters on pursing an initial public offering (IPO) that could value the
company at over $2 billion, The New York Times reported, citing people briefed
on the matter. The talks with investment banks have indicated a Hulu IPO could
come as soon as this fall.
The site streams TV episodes and movies licensed from its owners and partners,
both on its own site and via distribution partners such as Yahoo, MySpace,
Comcast and AOL.
Hulu is currently ad-supported, but also plans to soon launch
a $10 per month subscription service that will offer access to a wider
selection of content.
Founded in 2007, Hulu raised $100 million in financing from
Providence Equity Partners, and generated more than $100 in revenues last year.