Kilar to quit as CEO of Hulu by March

(AP) 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.