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Hulu Latest News: Hulu Owners Cancel Auction - Again

Wochit 1:17 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. Then there were two. CNBC reported that a partnership between Guggenheim Digital Media and KKR (KKR) had pulled out of the bidding war for subscription video streaming service Hulu. Guggenheim's departure leaves DirecTV (DTV) and a partnership between AT&T (T) and Peter Chernin as the last two bidders for all of Hulu.

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