Search for Hulu buyer called off

<p>Hulu’s owners have called off a search for a buyer.</p>

The owners of video streaming site Hulu have announced they are no longer looking for a buyer for the company.

Hulu – which is owned by Walt Disney, 21st Century Fox and NBC Universal – will now remain in those hands.

Fox president Chase Carey explained that the companies now believe a "meaningful recapitalisation" represents the best path forward for the firm.

The trio of owners revealed that they are going to keep their ownership stakes and invest $750 million (£496 million) into growing Hulu.

Hulu's owners "had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match," said Mr Carey. But he added the owners will now aim to compete against rival Netflix through the new investment in Hulu.

Disney chief executive Bob Iger, in a statement, described Hulu as "one of the most consumer friendly, technologically innovative viewing platforms in the digital era".

Yahoo! and DirecTV are among the firms believed to have been in the running with a takeover bid for Hulu, but none of these offers came to fruition.

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