News that Hulu, the US professional video site, attracts four buyers

Abstract: US professional video website Hulu According to Reuters, people familiar with the matter said Peter Chernin, a former president of News Corp, and Guggenheim Digital Media of private equity funds have already made an offer to Chernin, a professional video site in the United States, and will

American professional video website Hulu

According to Reuters, people familiar with the matter said that former News Corp president Peter Chenin Peter Chernin and private equity fund Guggenheim Digital Media have made an offer to the US professional video site Hulu, which will trigger a bidding war.

US satellite TV operator DirecTV and cable TV operator Time Warner Cable have also issued a takeover offer to Hulu, according to people familiar with the matter.

Previous reports said the company was considering a sale for the second time this year as Hulu's big shareholder News Corp and Disney failed to agree on a business strategy.

Chernin a 500 million dollar offer in April and will assume Hulu's debt and programme obligations. Guggenheim Digital Media, Time Warner Cable and DirecTV did not comment. Chernin spokesmen have not yet responded.

Information from Hulu's official website shows that more than 3 million of its subscribers pay 7.99 dollars a month to use the company's services, earning about 700 million dollars last year. The company also sells ads for free services.

Guggenheim has provided advisory services to Hulu's deals, but the company is independent from Guggenheim.