Hulu CEO Kilar stepping down

LOS ANGELES Jason Kilar is stepping down as the chief executive of Hulu, the online video service owned by the parents of ABC, NBC and Fox.

Kilar broke the news to staff in an email, which he posted on the Hulu blog. While he didn't state a reason, the video site has been losing money despite posting nearly $700 million in revenue last year. Kilar has at times clashed with Hulu's owners over company strategy.

Kilar said in the blog that Richard Tom, senior vice president and chief technology officer, will leave at about the same time.

Hulu CEO on mega success, original content

"We have grown from a few hundred thousand in revenue in 2007 to generating almost $700 million in revenue in 2012 alone," Kilar said in the post in highlighting what he described as Hulu's accomplishments. "We have created a video subscription service that is growing unusually fast, adding over 200K new subscribers in the past 7 days alone (a new record). We have proudly generated over $1 billion for our content partners since we excitedly entered private beta in October 2007."