Hulu eyes $2 billion stock sale in potential IPO
Hulu, the Web video service that features popular shows such as "The Office" and "Modern Family" as well as movies, is planning to sell stock in a deal that could value the company at more than $2 billion, sources said Monday. The three-year-old service, backed by some of the most powerful companies in entertainment including GE, Disney and News Corp., could hold its initial public offering this year. Hulu began as a free service that streamed programming to computers and depended on advertising revenue. In June, the company announced its Hulu Plus paid service, offering current and archived TV shows on computers, cell phones, Apple's iPad and TV sets for $9.99 a month. Although the site has dabbled in revenue-generating features, some Wall Street analysts said offering up an IPO is ambitious with an untested business model. Source - NYDailyNews
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