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.
The Motley Fool recommends Walt Disney. The Motley Fool owns shares of Walt Disney. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.