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Report: Chernin Bids $500 Million for Hulu

Peter Chernin is reportedly willing to pay
$500 million for Hulu, according to a report from Reuters.

former News Corp. president had helped set up the service in 2007.

noted that the website "reached out to potential buyers in March" after
initially contemplating a deal in which either Disney or News Corp. would buy
each other out. The two have not been able to agree on a strategy for Hulu's

third owner Comcast does not have a say in operations as a result of the
conditions imposed as part of its acquisition of NBCUniversal.

Reuters report noted that "it is not known if other bidders have come forward."

leaving News Corp. Chernin set up The Chernin Group, which has holdings in
number of different types of media.

Hulu declined to comment on the report.