Today Disney announced that they were becoming full equity-owning partners of the Hulu website. Disney has joined NBC, News Corp, and Providence Equity to become co-partners of Hulu, a commercial-based website that provides streaming video of TV. Obtaining 30% stake in the venture, Disney hopes to keep up with the fast pace video industry. Once the deal is finalized, Disney's ABC channel will provide streaming of various television shows such as: Desperate Housewives, Lost, and Grey's Anatomy. Bob Iger, CEO and president of Disney stated,
"Disney and Hulu share a focus on delivering the highest-quality entertainment experience and we look forward to working with Hulu to build value for our consumers, our brands and our shareholders."
COO and president of News Corp, Peter Chernin, agreed saying that,"Hulu, quite simply, now has the best premium content on the Web...With three major networks and over 150 leading content providers providing content, combined with the best video user interface anywhere on the Web, Hulu offers consumers the finest premium online video experience available today."
Yeah, I heard they were getting in. Just goes to show how well Hulu is catching on doesn't it?
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