Hulu has engaged the services of Guggenheim Partners for financial advice on the sale of the firm. This was despite the fact that the financial services firm is now formulating its very own bid for the online video streaming service.
The bid of Guggenheim was confirmed by three anonymous sources with knowledge of the transaction, who told Reuters.
Guggenheim Executive Chairman, Alan Schwartz, was asked by Hulu to provide financial advice on the sale last 2011. At this time, the owners were unable to find a buyer for the steep price the owners wanted at the time, a price tag of US$2 billion.
Hulu is currently controlled by both Disney and News Corp and has re-engaged the services of Guggenheim to advise on another sale prospect. This was confirmed by one of the sources.
Guggenhim Partners is based out of New York and is has become the investment firm for the fast growing media business. Guggenheim spokeswoman Terry Fahn declined to provide any comment on the matter. This was the same tact from Hulu's Elisa Schreiber, News Corp's Dan Berger and Disney's Zenia Mucha.
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