Hulu Selling Japan BusinessNippon Television Group Signs Deal To Acquire Service 2/28/2014 6:43 AM Eastern
Hulu has inked deal to sell its Japan business to Nippon Television Group. The agreement is subject to regulatory approval.
“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,” Hulu CEO Mike Hopkins wrote 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.