Thursday, October 13, 2011 at 7:33 pm.

Smart: Hulu isn’t selling

Peter Kafka has the release. In short, Hulu’s owners — Disney, Fox, and NBC — have decided not to sell it.

No word on whether Hulu CEO Jason Kilar will remain with the company, but it would be a big positive for Hulu if he is (and if Hulu’s owners gave him freer reign).

This is a smart move. Hulu is too big and too important for the networks to cast away, and they probably weren’t offered an obscene-enough amount of cash to sell it.

Streaming video won’t replace TV for a long time — if ever — but as Netflix is showing, it can be a great complement. The best aggregator(s) will win, and Hulu is in a good position to be one of the top players.

Now, for the sake of viewers, let’s hope they focus on making it one of the best places to watch video on the web, competing with Netflix and YouTube.

Earlier: Why isn’t Apple in the running to buy Hulu?