This strikes me as quite desperate on the part of cable/media conglomerates to keep people from cutting the cable cord. Hulu’s selection always seemed rather anemic in comparison to Netflix, plus one can watch TV over-the-air for free. There’s also the option of legally watching a lot of the shows on the networks’ websites, or renting/buying them from iTunes or Amazon. Given all of these other options, I’m not sure why anyone would stay with Hulu if they pull this move, unless they’re that much in love with episodes of “Family Guy” they can get elsewhere just as easily.
I suppose there’s always the possibility of Hulu pulling a Netflix and reversing-course. We’ll see, but I somehow doubt it, per who owns Hulu: News Corp, Comcast, and Disney.