Finance Latest News: Hulu Owners Cancel Auction - Again

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Finance Latest News: Hulu Owners Cancel Auction - Again

Finance Latest News: Hulu Owners Cancel Auction - Again
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Finance Latest News: Hulu Owners Cancel Auction - Again

Wochit 1:30 mins

For the second time, Hulu has been taken off the sales block. 21st Century Fox, NBCUniversal, The Walt Disney Co. jointly issued press releases announcing they planned to keep ownership and invest $750 million in the streaming site. Bids from DirectTv and AT&T had reportedly neared the $1 billion mark. The on-again, off-again sale of Hulu is off again. The parent companies of ABC, NBC and Fox said Friday that they would stay owners of Hulu, while providing a cash infusion of about $750 million to ensure future growth. The owners had accepted formal bids for the online video service last week. The announcement Friday suggests the bids were too low. Stock blogger Josh Brown is warning investors to not go crazy based on the heights the market has been reaching lately. On his blog TheReformedBroker.com, Brown said, "People have trouble rationalizing being in the market because of where it was six months ago or five years ago. The best thing you can do to overcome that is study history." With the stock market is at all-time highs, individual investors should take the opportunity to buy or sell something, right? Not so fast says The Reformed Broker Josh Brown.

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