Application Security
12/21/2010
01:36 PM
Connect Directly
RSS
E-Mail
50%
50%

Hulu Nixes IPO Plans

The online video site may look to its existing investors to raise capital, now that it's dismissed plans for a public stock offering, say reports.

Hulu, the popular movie and TV show streaming site, is not planning to go public in the near future, the Wall Street Journal reported Tuesday.

Hulu is instead pursuing new subscription plans beyond its recently launched paid service, Hulu Plus. One reason Hulu's management decided not to proceed with an initial public offering (IPO) was the company does not have long-term rights to its owners' online video programming, according to the Journal.

An IPO was being considered by Hulu's management to raise funds so it could license additional content from a broader range of media companies, the newspaper reported. But the company has decided to instead pursue other options to raise capital rather than go public. One option might include Hulu's owners infusing the company with more money, the Journal said.

Hulu's investors include News Corp., Walt Disney, NBC Universal, which is owned by General Electric, and Providence Equity Partners.

Citing "people familiar with the matter," Hulu CEO Jason Kilar and senior board members discussed the possibility of offering new subscriptions during a meeting last week, the Wall Street Journal reported. Hulu is looking to secure rights to distribute content it doesn't already have with the new subscription plans, the newspaper said. It was not made clear whether the new subscription plans would affect Hulu Plus.

Last week's talks were at "an early stage" so no details were given about what type of TV programming or movies the new plans would include -- or whether the discussions would continue, the Journal said.

Hulu's rivals, which include Netflix and Google's YouTube, are also expanding their online programming to include access to TV shows. Hulu started by offering free recent episodes of current TV shows and has been expanding its lineup to include full seasons of shows as well as older content. Its business model is largely advertising based, but its owners have been looking to generate more revenue with subscription-based services, the Journal reported.

Hulu Plus was launched last summer and offers full seasons of certain shows that previously had been limited to some episodes. Subscribers can also watch on portable devices such as tablets and Internet-connected TVs. The monthly cost was dropped from $9.99 to $7.99 after customers complained the selections on Hulu Plus were limited.

In related news, Hulu Plus is slated to soon be offered by TiVo's Premiere DVR service, but it will not be available from cable companies, including RCN, Cox, and Suddenlink, that lease the digital video recorders. Both Hulu and Netflix said the cable companies' contracts don't allow them to offer the subscription services, according to Gigaom.com.

Comment  | 
Print  | 
More Insights
Register for Dark Reading Newsletters
White Papers
Cartoon
Current Issue
Flash Poll
DevOps’ Impact on Application Security
DevOps’ Impact on Application Security
Managing the interdependency between software and infrastructure is a thorny challenge. Often, it’s a “developers are from Mars, systems engineers are from Venus” situation.
Video
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2013-5467
Published: 2014-08-29
Monitoring Agent for UNIX Logs 6.2.0 through FP03, 6.2.1 through FP04, 6.2.2 through FP09, and 6.2.3 through FP04 and Monitoring Server (ms) and Shared Libraries (ax) 6.2.0 through FP03, 6.2.1 through FP04, 6.2.2 through FP08, 6.2.3 through FP01, and 6.3.0 through FP01 in IBM Tivoli Monitoring (ITM)...

CVE-2014-0600
Published: 2014-08-29
FileUploadServlet in the Administration service in Novell GroupWise 2014 before SP1 allows remote attackers to read or write to arbitrary files via the poLibMaintenanceFileSave parameter, aka ZDI-CAN-2287.

CVE-2014-0888
Published: 2014-08-29
IBM Worklight Foundation 5.x and 6.x before 6.2.0.0, as used in Worklight and Mobile Foundation, allows remote authenticated users to bypass the application-authenticity feature via unspecified vectors.

CVE-2014-0897
Published: 2014-08-29
The Configuration Patterns component in IBM Flex System Manager (FSM) 1.2.0.x, 1.2.1.x, 1.3.0.x, and 1.3.1.x uses a weak algorithm in an encryption step during Chassis Management Module (CMM) account creation, which makes it easier for remote authenticated users to defeat cryptographic protection me...

CVE-2014-3024
Published: 2014-08-29
Cross-site request forgery (CSRF) vulnerability in IBM Maximo Asset Management 7.1 through 7.1.1.12 and 7.5 through 7.5.0.6 and Maximo Asset Management 7.5.0 through 7.5.0.3 and 7.5.1 through 7.5.1.2 for SmartCloud Control Desk allows remote authenticated users to hijack the authentication of arbitr...

Best of the Web
Dark Reading Radio
Archived Dark Reading Radio
This episode of Dark Reading Radio looks at infosec security from the big enterprise POV with interviews featuring Ron Plesco, Cyber Investigations, Intelligence & Analytics at KPMG; and Chris Inglis & Chris Bell of Securonix.