Both CNBC and the Wall Street Journal reporters have sources telling them Hulu received an offer to be bought out, and now they're considering it. The main consequence of such a sale would would revolve around network and cable television content on the site.
Hulu is co-owned by Disney, News Corp and NBC, who run the ABC, FOX and, um, NBC networks, respectively. There's been a considerable amount of tension between Hulu's management and it's owners over the last couple of years, and such a split seems bad on the surface, because it could free the network owners from having any obligation to stream content on the site.
On the other hand, networks might also be able negotiate more lucrative contracts with Hulu that they couldn't necessarily hammer out with a vested interest in the company. Imagine Community actually streaming on Hulu Plus. Or maybe Hulu morphs into more of an online Cable operator?