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peHUB Second Opinion

In Second Opinion, crowdfunding is just as hard for women to get as elusive venture capital, Oprah is interested in bidding for the Clippers and Facebook may crush Twitter.

fundraising money

Providence’s Fund VII Target Reduced to $5B

Providence Equity Partners’ seventh fund will likely come in at around $5 billion, according to two sources who attended the firm’s annual meeting last week. Separately, Providence has finally completed the sale of their 10% stake in Hulu for $200 million.

Hulu Owners Bail on Deal Process

As sale and IPO processes continue to wither in the face of turbulent markets, the owners of Hulu, the streaming entertainment company, announced late Thursday they would not, in fact, pursue a sale of the company. News Corp., Providence Equity Partners, and the Walt Disney Co. are among Hulu’s owners. Previously, it was reported that strategic bidders had failed to satisfy sellers’ requirements.

Lawmakers Oppose Undeletable Cookies

(Reuters) – Two leading lawmakers on privacy — a Republican and Democrat — have asked the Federal Trade Commission to look into MSN.com and Hulu.com’s installation of cookies onto users’ computers that cannot be deleted. In a letter dated on Monday, Representatives Joe Barton and Ed Markey asked FTC Chairman Jon Leibowitz what plans the […]

Hulu Deal at Risk Even as Bids Pend

(Reuters) – The auction of online video site Hulu has been slowed by recent developments which could derail it completely, according to sources familiar with the process. Among the issues are conflicts over complicated digital rights, a wide bid-ask gap, and Yahoo being sidelined as a potential buyer by its own issues. Moreover, NBC Universal’s […]

Google May Take Competitors to the Gridiron Next (Literally)

Google TV hasn’t exactly been setting the world on fire. The Motorola Mobility acquisition will help Google’s set-top television business—but it only goes so far. Even the acquisition of Hulu won’t turn the online search titan into a perennial competitor to traditional television networks. Hulu itself is facing smaller margins; its streaming entertainment business is […]

Media Moguls’ Focus Shifts to Digital Dollars in Sun Valley

SUN VALLEY, Idaho, July 5 (Reuters) – Media and technology moguls gather in Idaho this week to once more debate a shift to a digital world, but the talk this year will finally focus on how to make money off it. Unlike in years past, this year’s attendees at the Allen & Co conference in […]

REPORT: Google in Talks to Acquire Hulu

Google is in talks to buy the popular online video service Hulu, according to the L.A. Times. Google is among several companies that have been kicking Hulu’s tires, with Microsoft and Yahoo also showing interest in Hulu and the major brand advertising that it would bring, says the report. Hulu’s advisors are Morgan Stanley and […]

Hulu Weighs Sale After Approach–UPDATED

NEW YORK, June 21 (Reuters) – Online video site Hulu has been approached by a potential buyer and is weighing whether to sell itself, according to a person familiar with the matter. The approach presents another decision point for the jointly owned company, which has shown an unclear strategy and last year spent six months […]

VCs Sidelined on SecondMarket Buy-side to Start ‘11

High net worth individuals are in and VC firms are out. That’s the showing from SecondMarket’s Q1 private stock data, which the auction system released today. After making 40% of investments conducted on SecondMarket’s platform in the fourth quarter of 2010, VC firms accounted for none of its transactions to start 2011. High net worth […]

Hulu could raise $300M in IPO

Entertainment website Hulu’s planned IPO could raise between $200 million and $300 according to Reuters. The IPO plan could be filed with the SEC this year and take place in the first half of 2011. The deal would value the company at about $2 billion. The online video service is backed by General Electric Co’s NBC Universal, Walt Disney Co, News Corp and private equity firm Providence Equity Partners.

Hulu IPO: Providence Equity’s Exit Strategy?

The knives are already out for Hulu’s planned IPO, but Providence Equity Partners is hoping that they prove dull.

Providence invested $100 million in Hulu three years ago, in exchange for a minority stake. Now, however, sources say that the firm hopes that the video streaming service could help fill a hole left by investments like MGM (particularly before formally hitting the market to raise a new $8 billion fund).

“If Providence wasn’t a PE investor [Hulu] probably wouldn’t be going public,” one buyout exec told me earlier today. “If [Hulu] were doing so well why not just wait? They would benefit by waiting if they thought the subscribers would take up the pay service.”

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