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Providence Drops Plans To Sell Hulu Stake

Providence Equity Partners and a group of investors have dropped plans to sell their holding in U.S. online video service Hulu.

Providence Equity Partners and a group of investors have dropped plans to sell their holding in U.S. online video service Hulu, AltAssets reports. The deal was expected to garner over $2 billion.

Set up in March 2007, Hulu provides U.S. viewers free access to hit TV shows such as Family Guy and 30 Rock using an advertising revenue-based business model. International buy-out firm Providence, News Corp., Walt Disney and NBC together own the company.

Click here for the story from AltAssets.

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