Peter Chernin, the former president of News Corp., is said to have made a $500 million offer to acquire Hulu, the video site operated by his former employer and Walt Disney Co., which in March sought bids from outsiders after mulling whether one would take over the other's interest. Providence Equity Partners, which has a stake in Chernin's media firm, is also a former investor in Hulu; the private equity firm in October received $200 million for its 10% share of Hulu, indicating a value of $2 billion for the entire site.

Full Story:

Related Summaries