From Bloomberg's Alex Sherman and Andy Fixmer (Dish Network Said to Examine Hulu Books in Site) :
Dish Network Said to Examine Hulu Books in Site’s Sale Process
By Alex Sherman and Andy Fixmer - Jul 28, 2011 12:51 PM CT
Dish Network Corp. (DISH) has signed a non- disclosure agreement to investigate the financials of Hulu LLC, the online video service that’s selling itself, according to two people familiar with the situation.
Dish’s move doesn’t necessarily mean that it will make an offer to acquire Hulu, said the people, who wouldn’t be identified because the matter isn’t public. Apple Inc. (AAPL), Google Inc. (GOOG), Yahoo Inc. and AT&T Inc. (T) have also expressed interest in the company, people familiar with the matter said this month. Dish Chief Executive Officer Joseph Clayton told the New York Times on June 23 he may be interested in deals for companies including Hulu.
An acquisition of Hulu would continue a flurry of takeovers this year for the second-largest U.S. satellite-TV provider. Dish, based in Englewood, Colorado, has already purchased DBSD North America Inc., a satellite company that provides voice and data services, and movie-rental chain Blockbuster Inc. Earlier this month, Dish won court approval to buy mobile-communications company TerreStar Networks Inc. for $1.38 billion. Unlike Hulu, all three acquisitions have been for companies out of bankruptcy.
Clayton has acknowledged that Dish will likely buy more companies. Chairman Charlie Ergen stepped down from the CEO role in May to focus on corporate strategy, including future acquisitions.
Hulu is co-owned by Walt Disney Co. (DIS), News Corp. (NWSA) and Comcast Corp. (CMCSA) Disney CEO Robert Iger told reporters July 6 that Hulu’s owners are committed to selling the company. Hulu’s price tag could exceed $2 billion, according to data compiled by Bloomberg and SNL Kagan. Dish hasn’t spent more than $2 billion on an acquisition since at least 1998, according to Bloomberg data.
Dish rose 1 cent to $31.30 at 1:47 p.m. New York time on the Nasdaq Stock market. The shares have gained 59 percent this year before today.
To contact the reporter on this story: Alex Sherman in New York at asherman6@bloomberg.net.
To contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.net
Dish Network Said to Examine Hulu Books in Site’s Sale Process
By Alex Sherman and Andy Fixmer - Jul 28, 2011 12:51 PM CT
Dish Network Corp. (DISH) has signed a non- disclosure agreement to investigate the financials of Hulu LLC, the online video service that’s selling itself, according to two people familiar with the situation.
Dish’s move doesn’t necessarily mean that it will make an offer to acquire Hulu, said the people, who wouldn’t be identified because the matter isn’t public. Apple Inc. (AAPL), Google Inc. (GOOG), Yahoo Inc. and AT&T Inc. (T) have also expressed interest in the company, people familiar with the matter said this month. Dish Chief Executive Officer Joseph Clayton told the New York Times on June 23 he may be interested in deals for companies including Hulu.
An acquisition of Hulu would continue a flurry of takeovers this year for the second-largest U.S. satellite-TV provider. Dish, based in Englewood, Colorado, has already purchased DBSD North America Inc., a satellite company that provides voice and data services, and movie-rental chain Blockbuster Inc. Earlier this month, Dish won court approval to buy mobile-communications company TerreStar Networks Inc. for $1.38 billion. Unlike Hulu, all three acquisitions have been for companies out of bankruptcy.
Clayton has acknowledged that Dish will likely buy more companies. Chairman Charlie Ergen stepped down from the CEO role in May to focus on corporate strategy, including future acquisitions.
Hulu is co-owned by Walt Disney Co. (DIS), News Corp. (NWSA) and Comcast Corp. (CMCSA) Disney CEO Robert Iger told reporters July 6 that Hulu’s owners are committed to selling the company. Hulu’s price tag could exceed $2 billion, according to data compiled by Bloomberg and SNL Kagan. Dish hasn’t spent more than $2 billion on an acquisition since at least 1998, according to Bloomberg data.
Dish rose 1 cent to $31.30 at 1:47 p.m. New York time on the Nasdaq Stock market. The shares have gained 59 percent this year before today.
To contact the reporter on this story: Alex Sherman in New York at asherman6@bloomberg.net.
To contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.net
