Providence to sell stake in Hulu for $200 million - 13 WTHR Indianapolis

Providence to sell stake in Hulu for $200 million

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LOS ANGELES -

A person familiar with the matter says Providence Equity Partners has agreed to sell its 10 percent stake in online video service Hulu for $200 million to other shareholders.

The person says the agreement is informal and a final deal has not yet been reached. News of the prospective sale was earlier reported by Bloomberg News.

Hulu's major shareholders include The Walt Disney Co., News Corp. and Comcast Corp.

A second person says that Comcast, which also owns a stake in Hulu through its subsidiary NBCUniversal, is not involved. Comcast was prevented from taking an active role in Hulu's affairs as a condition of its acquisition of NBCUniversal in January 2011.

Neither person is authorized to speak publicly about the matter and request anonymity.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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