The companies that formed Hulu are nervous. The internet isn't what they thought it was when they discussed it in business meetings and had the brain child that has turned into Hulu. It wasn't a bad idea, monetize the internet in hopes of curbing the huge pirating community that was growing in the face of a complete absence of network TV on the interwebs. Despite the growth of Hulu it's owners, which include NBCUniversal, Disney, and 21st Century Fox remained nervous since Hulu wasn't growing like much better run streaming services (Netflix and Amazon Prime) was exploding around them. So of course they began hearing offer after offer for someone, anyone, to purchase their stake in the TV streaming service.
Not shockingly several companies were interested because despite anyone's opinion of Hulu it's a decent service and still has plenty of chances to dominate this burgeoning market. Some reports had some crazy offers out there including one from Direct TV for $1 billion. Despite these offers the owners of Hulu decided it wasn't what they were looking for and the auction is off.
This is the second time in two years Hulu has done this. There are a lot of questions what a newly owned Hulu would look like. Would much of the current content, which is primarily from NBC, Fox, and Disney, remain streaming or would the new owners have to strike their own content deals? Either Hulu wasn't willing to answer these questions or didn't think these offers were worthy of their time. Either way it really seems the owners of Hulu aren't sure what to do with it just yet.