UPDATED 10:09 AM EST, January 5, 2013
LOS ANGELES (AP) — Jason Kilar will step down by the end of March as the chief executive of Hulu, the online video service owned by the parents of ABC, NBC and Fox.
Kilar, 41, broke the news to staff in an email, which he posted on the Hulu blog on Friday. While he didn't state a reason, the video site has been losing money despite posting nearly $700 million in revenue last year. But it's growing fast, and added 200,000 paying subscribers in the last seven days alone, Kilar said. Last month, the company said it had more than 3 million subscribers.
