Suitors for the online video site Hulu shelled out $25 million in legal and banking fees before the owners of the site rejected all of their offers and decided instead to invest some $750 million in the site to make it more competitive with Netflix and YouTube, the New York Post reported today (Tuesday), citing unnamed sources. Moreover, said the newspaper, each of the suitors, who included DirecTV, The Chernin Group/AT&T, and Time Warner Cable, had to submit plans for the website's future. Those ideas are now in the hands of Hulu's owners -- much to the frustration of those involved, commented the Post.
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