Sources close to a Hulu parent company have stated Hulu CEO Jason Kilar is without a contract. The source claims parent companies Disney, Comcast and News Corp are working on buying out the stake of the fourth owner, Providence Equity Partners.
The buyout is meant to help Providence exit the partnership and earn a payout when it originally expected to sell Hulu last fall. Hulu eventually changed its business model, picked up subscribers and the owners saw Hulu as a seemingly valuable asset. The buyout is expected to give Providence and Kilar quite of bit of cold hard cash.
Rumors have swirled about Kilar possibly joining other companies, including Yahoo and Facebook. To complicate matters even more, it seems that some partners aren’t too sure Kilar is the right man for the job. Some feel he’s facing a wall which many unseasoned executives face, where he cant possibly take Hulu to its full potential.
Hulu has done a remarkable job under Kilar. Whatever happens behind the scenes at Hulu, it is up for some big changes. Do you think Jason Kilar will stick around Hulu?
[via Business Insider]