Breaking News from CNBC's Julia Boorstin: Guggenheim Digital Media is out of Hulu Bidding Process -- Now Down to Two Bidders
WHEN: TODAY, TUESDAY, JULY 9TH
WHERE: CNBC'S "FAST MONEY"
Following is the unofficial transcript of breaking news from CNBC's Julia Boorstin. All references must be sourced to CNBC.
JULIA BOORSTIN: MY SOURCES TELL ME THAT GUGGENHEIM DIGITAL MEDIA IS OFFICIALLY OUT OF THE HULU BIDDING PROCESS. IT WAS ONE OF THREE COMPANIES THAT PUT IN A FINAL BINDING BID FOR HULU THIS PAST FRIDAY. GUGGENHEIM DIGITAL MEDIA IS NOW OUT. THAT LEAVES DIRECTV AND AS WELL AS A JOINT BID BY THE CHERNIN GROUP LED BY FORMER NEWSCORP EXECUTIVE PETER CHERNIN AS WELL AS AT&T SO THAT BID WOULD BASICALLY BE LED BY CHERNIN WITH FINANCING FROM AT&T. SO THOSE ARE THE TWO REMAINING BIDS AND SCOTT RIGHT NOW I AM IN SUN VALLEY AT THE ALLEN & CO MEDIA CONFERENCE AND ALL OF THE BIG PLAYERS LEFT IN THIS HULU DEAL WILL BE HERE WE DO HAVE THE TWO REMAINING BIDDERS, CEOS OF THE TWO REMAINING BIDDERS COMING HERE AS WELL AS ALL OF THE PARENT COMPANIES OF HULU. WE DO EXPECT TO HEAR MORE ON THE DEAL THIS WEEK. BUT SCOTT NOW THERE ARE TWO.
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