Photograph by Gianni Fiorito/Punto e Virgola Press Office via AP Photo Toni Servillo in La Grande Bellezza (The Great Beauty)

In the warring factions that dominate pay TV, big-budget original series have become the weapon of choice for almost every player, from HBO (TWX) to Netflix (NFLX) to Amazon (AMZN). Hulu has plenty of its own originals, but for the past three years it has battled for… [Read more on Business Week]