LOS ANGELES, June 25 (UPI) -- While video streaming Web site Hulu looks for a buyer, one of its current principal owners is duty-bound to stay out of the deal making, the government said.
The government allowed Comcast Corp., to purchase Hulu as part of its deal to buy a majority stake of NBCUniversal from General Electric Co.
However, Comcast, had to agree not to harm Hulu, which is, essentially, a rival to the cable company, The Los Angeles Times reported Saturday.
The agreement bars Comcast from participating in the management of Hulu. It went further, ordering Comcast to treat Hulu like any other rival that it did not own.
Hulu, meanwhile, has recently turned to consultants to investigate the possibility of putting itself up for sale and Comcast is required to zip the lip and keep its hands in its pockets until the deal-making is done.
Hulu could end up in the hands of a Comcast rival, the equivalent of sending a star baseball player to another team in the same league and division and having no say in the matter.
