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HindustanTimes Mon,21 Apr 2014

TV website Hulu elevates content chief to acting CEO

Reuters  Los Angeles, March 15, 2013
First Published: 16:39 IST(15/3/2013) | Last Updated: 16:41 IST(15/3/2013)

Video website Hulu on Thursday said that content chief Andy Forssell will lead the company as acting CEO while owners Walt Disney Co and News Corp decide on the future of the streaming video service.

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Forssell, currently senior vice president of content, will take over after CEO Jason Kilar departs later this month, according to a post by Kilar on the Hulu blog. Kilar announced on January 4 that he planned to leave the company.

"Disney and News Corporation are currently finalizing their forward-looking plans with Hulu, and the senior team has been working closely with them in that process," Kilar wrote. "Once the plans are finalized, a permanent decision will be made regarding the CEO position."

The third media company co-owner, NBC Universal, is not allowed to take part in any managerial decisions under an agreement with U.S. regulators after Comcast Corp took control of NBC Universal in 2011.

Hulu started primarily as a free, ad-supported site for people to catch up on television shows they might have missed. It now includes an $8-a-month Hulu Plus service that includes additional content including original programming.

Kilar previously said Hulu earned $700 million in revenue in 2012 and had more than 3 million paying subscribers.

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