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George Kliavkoff, the former NBC Universal exec who helped develop Hulu, is joining the Hearst Corporation.

Kliavkoff, who left his job at NBC last year, will become the executive vice president and deputy group head of Hearst Entertainment & Syndication. CNET writes that Kafka will report to the unit’s president, Scott Sassa, the former CEO of Friendster and Uber.com.

And Peter Kafka at All Things D reports:

Kliavkoff says he plans on both building and buying properties, and that he has some M&A candidates in mind. “I do think it’s a good time to be acquiring digital media properties, because they’re well priced compared to where they were a couple years ago,” he said.

Kliavkoff will be responsible for turning Hearst’s properties into digital, money-making machines. The Entertainment and Syndication division “is responsible for managing the company’s ownership stakes in cable companies, such as A&E Television Networks, the History Channel, and ESPN,” Kafka says.