Providence Equity Partners and a group of investors have dropped plans to sell their holding in U.S. online video service Hulu, AltAssets reports. The deal was expected to garner over $2 billion.
Set up in March 2007, Hulu provides U.S. viewers free access to hit TV shows such as Family Guy and 30 Rock using an advertising revenue-based business model. International buy-out firm Providence, News Corp., Walt Disney and NBC together own the company.
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Walt Disney U.S. Hulu Providence Equity Partners News Corp.