New York – Online video portal Hulu is gearing up for an
initial public offering (IPO) that would raise between $200 million and $300
million, and could file a prospectus with the SEC before year’s end, sources
tell Reuters. Morgan Stanley is rumored to be the underwriter chosen to lead
the transaction.
The three-year-old Hulu is a joint venture between NBC
Universal (NYSE: GE), News Corp. (NYSE: NWS), Disney (NYSE: DIS) and Providence Equity Partners.
The site has
grown to become the second-largest video site in the U.S., behind Google’s (NASD: GOOG)
YouTube.
After launching as strictly an ad-supported service, Hulu recently
debuted Hulu Plus, a $10-per-month subscription service that gives viewers
additional access to seasons of streaming TV episodes.
Should the company file
before year’s end, the IPO could be held early next year, should the new issue
market improve, or held until April or May, after first quarter results are in,
sources told Reuters.
Related Links:
http://www.reuters.com/article/idUSN0620558920101008
http://www.hulu.com
