Hulu selling Japan business to Nippon TV

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By AP

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Updated: Thu, 27 Feb 2014 09:14:36 EST

LOS ANGELES (AP) — Video streaming company Hulu says it's selling its business in Japan to Nippon TV. A price wasn't disclosed.

Hulu CEO Mike Hopkins says that Hulu had grown to a point where it believed the best path forward was to sell its Japan business to a strategic buyer.

Nippon Television Network Corp. is to assume day-to-day operations of the service, which costs 980 yen ($9.60) per month for access to American fare like "Person of Interest" and Japanese shows like "Spec." Nippon TV plans to add TV shows from its network to the service.

Hulu will license its brand and technology and provide services to the Japanese business.

Hulu, owned by 21st Century Fox, The Walt Disney Co. and Comcast Corp., launched its Japan service in September 2011.

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