Hulu

Providence Equity Partners is selling its stake in online video service Hulu for about $200 million, according to people familiar with the situation. The move is expected to give at least two of Hulu's media company owners — News Corp. and Walt Disney Co. — a greater ownership stake in the rapidly growing online service. It also would make it easier for the partners to achieve a common strategy for the asset without having a restive investor in the mix. The 5-year-old service has more than 2 million paid subscribers to its Hulu Plus offering and about 38 million visitors a month to its free site, which offers catch-up episodes of such popular shows as "Glee," "Revenge" and "The Daily Show With Jon Stewart.

Hulu, the video website owned by media giants Comcast Corp., Walt Disney Co. and News Corp., is launching a subscription service in Japan. The move is the first international expansion for Hulu, which carries a large library of movies and television shows. The service will be free for one month to subscribers, then it will be a pay service. "We are taking a first but important step to make good on our aspiration to serve customers all over the world," said Johannes Larcher, Hulu's senior vice president of international operations.

The owners of Hulu have taken the pioneering online video site off the market after hoping to fetch $2 billion. News Corp., the Walt Disney Co. and Providence Equity Partners issued a statement Thursday, saying they saw more value in retaining the popular 3-year-old service than in selling it off. "Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for...

Hulu is losing two of its biggest stars. Comedy Central is yanking "The Daily Show With Jon Stewart" and "The Colbert Report" off the popular video website after the companies could not agree on a plan to share advertising revenue. Hulu said Tuesday that the shows will go off the site after March 9. Viewers still will be able to get their Jon Stewart and Stephen Colbert fix free -- on thedailyshow.com and colbertnation.com, websites owned by Comedy Central parent Viacom Inc. The move throws a wrench into Hulu's ambitions to become an online showcase of top programs from all networks.

Pioneering Internet television site Hulu has retained investment bankers to explore a potential sale. The online distributor, which is jointly owned by media conglomerates News Corp., Walt Disney Co. and NBCUniversal parent Comcast Corp., has hired Guggenheim Partners and Morgan Stanley to facilitate a sale, according to people familiar with the matter who declined to be identified because the talks are confidential. Prospective bidders were notified that the sales process would begin in about two weeks, said one of the people.

As speculation continues to swirl around Hulu, one of its corporate owners is forced to sit on the sidelines having no role in the fate of the popular online video site even though the outcome could greatly affect its own future. That's the position Comcast Corp., the nation's largest cable and broadband operator, finds itself in with regard to Hulu, which has retained investment bankers to explore a possible sale of the company. Whereas Hulu's other majority owners — Walt Disney Co. and News Corp.

Google Inc., which already rules the Web with the world's most popular search engine and video site, appears poised to take an even deeper plunge into Hollywood with a potential bid for rival online video pioneer Hulu, people familiar with the discussions said. The bold push into the entertainment sphere signals Google's growing ambitions to snap up more mainstream programming that would entice online viewers — and those in the living room — to watch longer, while capturing an even bigger advertising payload from major brands.

A Los Angeles County judge on Thursday referred to arbitration the case of a Canadian engineer who contends that NBC Universal stole his idea and business strategy to launch Hulu, the website that shows TV programs and movies. Errol Hula, founder of technology company Hulavision, sued media giant NBC Universal and the Hulu joint venture four months ago, saying Hula shared trade secrets and a business plan with an NBC executive in 2006. The following year, NBC Universal announced plans to team up with Rupert Murdoch's News Corp.

Online video site Hulu, which has emerged as one of the most popular places to watch television shows on the Internet, wants to see whether Wall Street will tune in as much as the public. The company — owned by media giants News Corp., NBC Universal and Walt Disney Co. and private equity firm Providence Equity Partners — is in talks with investment banks about launching an initial public offering as early as this fall. The news was first reported Monday by the New York Times.

Hulu, the popular online site for watching television shows, is preparing to execute the toughest maneuver in digital media: moving from free to pay. The service will begin testing a subscription offering as soon as May 24, according to people with knowledge of the plans. Under the proposal, Hulu would continue to provide for free the five most recent episodes of shows such as Fox's " Glee," ABC's "Modern Family" and NBC's "Saturday Night Live." But viewers who want to see additional episodes would pay $9.95 a month to access a more comprehensive selection, called Hulu Plus, these people said.