The hoist has hired Guggenheim partners to sell the company, the financial services company is considering its own bid video streaming service to understand the issue from three sources told Reuters reporters.
Guggenheim Executive Chairman Alan Schwartz (Allen $ 200 million, the company's owners want.
Hoist, Disney's ABC and News Corp. 's Fox network control, re-in Guggenheim processing another sales attempt, according to the sources, who asked not to be named, to speak, because of the ongoing auction process is private.
The Guggenheim Museum is a New York-based investment company, a fast-growing media business. Terry Fahn, a spokesman for the company, declined to comment, Elisa Schreiber, a spokesman like Hulu, Fox spokesman Dan Berger and Disney spokeswoman Zenia Mucha.
Securities experts say the growing number of financial services companies to provide advice and involved in the transaction, as they become larger, extended to more areas. In accordance with the provisions of the securities laws allow some corporate governance experts on conflict of interest issues.
The Guggenheim Museum has established a "Chinese wall" between its investment banking and asset management business, one of the sources said.
Another source said that the Guggenheim has taken measures to maintain a "transparent", it is the hoist to decide whether to keep the financial services company, if it makes the company's offer.
"This is a clear conflict of interest, said:" who specializes in securities law, mergers and acquisitions experts, at the University of Southern California Gould School of Law Professor Ehud Kama.
As financial enterprises bigger and bigger, there is a greater likelihood that this will happen, "he said."
Been other banks in the sides of the transaction, including Goldman Sachs, which is not to pay prosecution costs of $ 20 million bill on the sale of Kinder Morgan Company shareholders of El Paso, El Paso, Kinder Morgan, claiming that Goldman Sachs in the acquisition of side of the stake sale to be infected.
Kinder Morgan received a $ 110 million lawsuit. Delaware Chancery Court judge, Judge Leo Stirling, Goldman Sachs's behavior described as "sneaky" and "disturbing", although he also told lawyers El Paso shareholder of Bank actions They may have a tough time. Goldman declined to comment on the matter.
Potential bidders
Guggenheim Museum, said on its website that it manages more than $ 170 billion of assets, to create a separate the Guggenheim digital media in January and units of the former Yahoo and News Corporation (News Corp.) president Ross Levin, Thorne responsible for.
Levinsohn has been studying Hulu bid, according to three sources.
Reuters previously reported, Hulu's potential buyers in March has reached a preliminary consideration of a transaction, Disney and News Corporation (News Corp.) may buy the other out. It is not clear whether the transaction is still under consideration. Third hoist, NBC's parent company, Comcast, investors have to give up control as a condition of purchase of NBC Universal.
Former News Corp. President Peter Chernin, one-time members of the Board of Hulu, one of its architects, Hulu bid of around $ 500 million and are willing to assume its debt of $ 330 million, sources told Reuters reporters in April. Chernin, a spokesman declined to comment Guggenheim Museum.
Hoist on its website that it has more than 300 million users, its high-quality service to pay $ 7.99 per month, and last year it generated income of 700 yuan or so million. Free service sales ads.
Guggenheim recently led a group spent $ 2.15 billion last year to buy the Los Angeles Dodgers baseball team. Media investments include Billboard, Adweek, The Hollywood Reporter and Dick Clark Productions.
 



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