Hulu backers tipped to buy Providence’s 10% stake

Online TV service Hulu’s studio backers are close to buying out private equity partner Providence according to various reports that surfaced last night.

Disney, Comcast and News Corp will reportedly buy Providence’s 10% share in the online catch-up and original programming service for about US$200 million (€150 million).

Should a transaction be executed for that amount, Hulu would be valued at about US$2 billion.
Separately, Hulu has added a new gay and lesbian genre category to its service. The programming line-up runs to over 60 movies and TV series including Queer as Folk and The Big Gay Sketch Show.

Tags: Hulu, US