April 10- Walt Disney Co on Wednesday confirmed the company is laying off employees in its movie studio division, a cost-cutting step after a review of the unit's operations. In a brief statement, Disney said it "made the difficult decision to reduce our staffing levels" in several studio divisions.
Former News Corp President Peter Chernin bid around $500 million for Hulu, the online-video streaming service he helped create in 2007, according to two sources with knowledge of Hulu's sale process.