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Hulu owners scrap sale in favour of cash injection

Hulu has once again opted not to sell.

After more than two months of acquisition rumours, during which everyone from Yahoo to DirecTV were named as possible buyers, 21st Century Fox, NBCUniversal, and The Walt Disney Company announced that they would maintain ownership of the video site and provide a $750 million (£497 million) cash infusion.

"Hulu has emerged as one of the most consumer friendly, technologically innovative viewing platforms in the digital era," Disney chairman and CEO, Robert A. Iger, said in a statement. "As its evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential."

"We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure," said Chase Carey, president and COO of 21st Century Fox. "We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they've built over the last few years."

In May, there were reports that Yahoo - prior to its $1.1 billion Tumblr deal - wanted to purchase Hulu. In the weeks that followed, there were also rumours that DirecTV, AT&T, and others were also eyeing the site, but no deals were reached.

If the latest announcement is giving you a little deja vu, you're not alone. Back in June 2011, there were reports that Yahoo had approached Hulu with an unsolicited offer. Over the course of the next few months, various tech companies were mentioned as potential buyers including Google, Yahoo, Amazon, DirecTV, and others. Finally, in October 2011, Hulu's owners pulled the plug on a sale.

This time around, the purchase rumours coincided with the departure of Jason Kilar as CEO. There were reports that Kilar's exit might result in a shakeup at Hulu, but for now, it appears that it's business as usual, with Andy Forssell currently serving as acting CEO.