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Latest Business News: Owners Call Off Hulu Sale, to Inject Cash Instead

wochit business
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July 12, 2013 AT 2:38 PM
The on-again, off-again sale of Hulu is off again. The parent companies of ABC, NBC and Fox said Friday that they would stay owners of Hulu, while providing a cash infusion of about $750 million to ensure future growth. The owners had accepted formal bids for the online video service last week. The announcement Friday suggests the bids were too low.