Beijing time on April 18th afternoon message, Reuters quoted sources as saying that Hulu has hired a financial services company Guggenheim Partners as a consultant, consider selling the company. Guggenheim itself, however, is considering a bid for Hulu.
Guggenheim executive chairman Alan Schwartz (Alan Schwartz) accepted Hulu hired in 2011, helping Hulu to find buyers. But had no buyers are willing to pay for Hulu shareholders want to more than $2 billion.
Hulu’s shareholders include Disney and news corp. According to sources, the company has contact again Guggenheim tried to sell. Guggenheim is a investment company in New York, focus on the media industry.
investment, experts say, many financial services company’s size is bigger and bigger, and more involved, so these companies are increasingly at the same time to provide advisory services and participate in the deal. Although America’s securities industry regulation to this kind of practice, but some of the corporate governance experts to question the possible conflicts of interest.
a source said the Guggenheim in investment banking and asset management business with a clear line between. Another source said Guggenheim is taking action to ensure transparency. Can and Hulu will decide if financial services companies bid for Hulu, so whether still continue to use the company as a consultant.
at the university of southern California Gould law school professor, securities law and m&a experts ehud? Kamal (Ehud Kamar) said: “that there is no doubt that there is a conflict of interest. With the development of the financial services company, this kind of situation is likely to appear again.” Like the Guggenheim, Goldman sachs has this situation.
Guggenheim said on the website, the company manages more than $170 billion in assets. In January of this year, the company established a special department of digital media, yahoo’s former CEO Ross levin thorne (Ross Levinsohn) became the head of the department. According to sources, levin thorne was studying buying Hulu.
, Reuters reports after Hulu Disney and news corporation shareholders had considered to buy each other stake, but did not achieve. Hulu contact with potential bidders in March this year. It is unclear whether Hulu is considering such a deal. Hulu, another investor Comcast has set up a file in the buying NBC universal trading Hulu shares held by the abandoned.
sources said former news corp. President Peter Chernin (Peter Chernin) has been put forward for the price of $500 million buying Hulu, and take over Hulu’s $330 million of debt. Chernin was Hulu board member, is also one of the designers of Hulu.
Hulu announced on its website, the company has more than 3 million subscribers, these users monthly payment of $7.99. Hulu revenues of about $700 million last year. Hulu also provide advertising in the free version of the service.
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