U.S. video viewing site Hulu plans an IPO – NY Times

Aug 16 (BestGrowthStock) – Hulu is planning an initial public
offering which could value the U.S. video viewing site at more
than $2 billion, the New York Times said.

The company, which streams popular shows like “Glee” and
“Modern Family”, is in talks with investment banks to go public
as soon as this fall, people briefed on the matter told the
daily.

General Electric Co (GE.N: ) affiliate NBC Universal owns a
third of Hulu.com, the most popular U.S. website for viewing
television shows. Hulu also is owned by News Corp (NWSA.O: ) and
Walt Disney Co (DIS.N: ).

The company, which competes with Google Inc (Read more about Google Stock Analysis)’s (GOOG.O: ) You
Tube, reported a revenue of about $100 million last year and was
on track to repeat the same by the middle of this year, the NY
Times said.

Last month, Hulu introduced a new paid subscription service
for watching TV shows and movies on mobile devices, game
consoles, television sets and computers, with an aim to strike a
balance between paid and ad supported models. [ID:nN29160974]

Hulu could not be reached by the New York Times. They could
not immediately be reached for comment by Reuters outside
regular U.S. business hours.
(Reporting by Archana Shankar in Bangalore; Editing by Jon
Loades-Carter)

U.S. video viewing site Hulu plans an IPO – NY Times