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"Andy exemplifies the Hulu culture and has been central to Hulu's journey, helping to grow this company from 2 content partners and no revenue to over 450 content partners and approximately $700 million revenue in 2012," Kilar wrote.
Hulu won't name a permanent CEO until investors News Corp. (NASDAQ: FOXA ) and Walt Disney (NYSE: DIS ) decide their "forward-looking plans" as it relates to the streaming service, Kilar wrote. In the meantime, Hulu faces intensifying competition from Netflix and Coinstar's Redbox Instant.