Satellite TV firm DirecTV, and a joint bid by telco AT&T and former News Corp president Peter Chernin are the final two in contention to buy Hulu outright, according to reports by both Blooomberg and All Things Digital.
US cable operator Time Warner Cable, meanwhile, is reportedly offering to take a minority stake in the business, alongside current owners Disney, 21st Century Fox and Comcast.
Hulu was said to have ruled Guggenheim Partners out of the running to take over the firm, following the final bid deadline of last Friday.
Bloomberg claims that both the DirecTV and the AT&T-Chernin Group bids are for around US$1 billion, though it is not clear what terms this would include. Hulu has not commented on the negotiations.