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Providence Plans To Sell 10% Hulu Stake To Disney, Comcast, News Corp For $200 Million -Bloomberg

Date : 04/26/2012 @ 2:45PM
Source : Dow Jones News
Stock : News Corp B Voting (NWS)
Quote : 18.61  -0.27 (-1.43%) @ 4:50AM
News Corp share price Chart

Providence Plans To Sell 10% Hulu Stake To Disney, Comcast, News Corp For $200 Million -Bloomberg

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Hulu.com owners Walt Disney Co. (DIS), Comcast Corp. (CMCSA, CMCSK) and News Corp. (NWS, NWSA) are finalizing a $200 million deal to buy out Providence Equity Partners' 10% stake in the website, Bloomberg News reported Thursday, citing two people with knowledge of the matter.

The transaction would value the company at $2 billion, Bloomberg reported.

Providence invested $100 million in the venture in 2007.

The owners will allow employees of Hulu, including its chief executive, to sell some shares of the video service, Bloomberg cited the people as saying.

Both a Hulu spokeswoman and an outside spokesman for Providence declined to comment to Bloomberg.

A News Corp. spokesman wasn't immediately available for comment to Dow Jones. News Corp. owns Dow Jones & Co., publisher of Dow Jones Newswires.

Full story at http://www.bloomberg.com/news/2012-04-26/providence-said-selling-hulu-stake-at-2-billion-value.html

-Dow Jones Newswires; 212-416-2900



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