Hulu might be going through some big changes within the next month, Variety reports. According to an uncovered internal memo, Hulu may find itself without a CEO at some point September, and the company may end up with less content to offer its viewers. If all of this is true, it could potentially change the streaming service as we know it.
Apparently Hulu’s CEO woes are brought on by the buyout of one of its investors, Providence Equity Partners. That buyout is expected to close sometime next month, and when it does, Variety says that “any Hulu executive with a significant number of vested shares” will be able to cash out. Hulu CEO Jason Kilar obviously has a lot of shares, and stands to make as much as $100 million in the event that the Providence deal closes successfully. That significant sum has Hulu worried he may take his $100 million and resign from the company.
Despite the worries, sources say Hulu isn’t searching for a new CEO just yet. Apparently Hulu board members have been talking to Kilar about his future with the company first, but so far those talks have been “without resolution.” This Providence buyout could bring more problems aside from having to search for a new CEO, however, as the memo also signals an incoming change in Hulu’s licensing agreements. It may not be long before News Corp. and Disney pare back their next-day offerings in an attempt to bring more visitors to their own websites, for instance.
Also a possibility is the end of exclusive content on Hulu. It’s suggested that these upcoming changes – or at least the possibility of them – might help convince Kilar to exit the company, but at the moment, all we have is this memo and Variety’s sources to go on. We won’t know what sweeping changes this Providence buyout brings with it until the purchase is officially on the books, but if these rumors are true, get ready for a pretty big shakeup at Hulu’s offices.