Hulu Sells Japan Business to Nippon TV

Hulu announced Wednesday that it has inked a deal to sell its Japan business to Nippon Television Group. The agreement is subject to regulator approval but is expected to close in early Spring

"Nippon TV is the leading television network in Japan, ranking #1 in average household viewer ratings in the past three years. As Japan's first commercial terrestrial broadcaster to go on the air in 1953, Nippon TV marked its 60th year of broadcasting in 2013," wrote Hulu CEO Mike Hopkins (pictured left) in a post on the company's blog. "From the beginning of our conversations, it was clear that Nippon TV understands the value of the first-of-its-kind service the Hulu team has built in Japan—we are very proud to have created a service that the local broadcast leader in Japan sees as a strong asset. I know that Nippon TV will be able to take Hulu in Japan to the next level."

Hulu's Japan service was launched in 2011. It offers unlimited content viewing for 980 yen — about $9.60 — per month.

Nippon TV currently operates a video-on-demand service called Nittele On Demand.