Providence equity is in talks to sell its 10 percent stake to Hulu’s media company parents. Disney and News Corp. have been in conversations with Providence, and have a handshake deal, though the deal is not done—not yet even papered. Comcast is not participating in the negotiations, because the terms of its acquisition of a majority stake in NBCUniversal prohibited it from being actively involved in the management of Hulu. It’s unclear whether Comcast would be involved in this acquisition. (*Note Comcast is the parent company of both CNBC and NBCUniversal)
Providence is in talks to sell its stake for somewhere in the ballpark of $200 million—though my sources tell me it could be lower.