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Latest Business News: Owners Call Off Hulu Sale, to Inject Cash Instead

Wochit 1:37 mins

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. Stanley Druckenmiller, the hedge fund manager who founded Duquesne Capital and was the lead money manager for George Soros at Quantum Fund from the late '80s to 2000, announced his support of FWD.us, the political action committee founded by Facebook CEO Mark Zuckerberg. Druckenmiller joins a slew of high profile tech supporters, including venture capitalist John Doerr and Yahoo CEO Marissa Mayer. A new report claims that Apple won't release its second-generation iPad mini with a Retina display until next year. According to Taiwan-based news site Economic Daily News, shortages with Retina display panels have forced Apple to delay the next iPad mini's launch. Apple was originally planning to release its second-generation iPad mini in the fourth quarter this year according to the site, but the smaller tablet is now reportedly on track for an early 2014 debut. Economic Daily News also suggests that Apple may release a non-Retina iPad mini alongside the high-resolution tablet at a lower price point.

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