Owners of Hulu LLC are continuing talks to sell a stake in the video-streaming service to Time Warner Cable Inc. (TWC:US) after canceling an auction of the entire business, said three people with knowledge of the situation.
A deal could be reached within two weeks, said the people, who sought anonymity because the negotiations are private. Time Warner Cable had previously sought to acquire a 25 percent stake in Hulu, they said. Hulu’s owners, Walt Disney Co., Comcast Corp. and 21st Century Fox Inc., today called off plans to sell the service.
Meredith Kendall, a spokeswoman for Los Angeles-based Hulu, declined to comment. Maureen Huff at New York-based Time Warner Cable didn’t immediately respond to requests for comment after normal business hours.
Reuters reported the discussions with Time Warner Cable earlier.
To contact the reporters on this story: Alex Sherman in New York at email@example.com; Andy Fixmer in Los Angeles at firstname.lastname@example.org
To contact the editors responsible for this story: Anthony Palazzo at email@example.com; Nick Turner at firstname.lastname@example.org