Owners decide not to sell Hulu

The owners of the popular video-streaming website Hulu have decided against selling it despite the reported interest of heavy hitters including Apple, Yahoo!, Google and Microsoft. News Corp, Disney and the private equity firm Providence Equity Partners announced in a joint statement late Thursday that they would hang onto the site, which streams free television episodes with ads. "Since Hulu holds a unique and compelling strategic value to each of its owners, we have terminated the sale process and look forward to working together to continue mapping out its path to even greater success," they said. "Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu," they added. NBC Universal, another owner, was not named in the statement. Hulu, which broadcasts television shows through on-demand streaming, said in July that it had 875,000 paid subscribers and was on track to approach half a billion dollars in revenue in 2011. Founded in 2007, Hulu lets users watch a selection of television shows and movies streamed onto their computers for free with advertisements. Subscribers can also pay a fee to watch on connected televisions, gaming consoles, and mobile devices, including Apple's iPhone and iPad. Last month Hulu began streaming movies and television shows in Japan in its first foray outside the United States.