Hulu is simply too small to do #1 or #3. They would have to spend phenomenal amounts of money, which they don't have - without an IPO, or perhaps even with one.

Hulu is simply too small to do #1 or #3. They would have to spend phenomenal amounts of money, which they don't have - without an IPO, or perhaps even with one. #2 is doable but not a slam-dunk, it still can be hit or miss.