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Former News Corp President Chernin bids $500 million for Hulu

  • Former News Corp president Peter Chernin has bid $500 million for Hulu, the online video streaming service he helped set up in 2007, according to two sources involved with Hulu's sale process.

    The website, jointly controlled by News Corp and Walt Disney, appealed to potential buyers last month after initially mulling over a deal in which one would buy out the other.

    It is not clear whether that transaction will still take place.

    Chernin, a former Hulu board member who now runs a media holding company, is among those interested.

    It is not known if other bidders have come forward as the process has not been publicly disclosed.