Yahoo! Bids Between $600 and 800 Million for Hulu
Posted: May 30, 2013 by Maja Johnson
Yahoo! is on a spending spree. Just days after buying Tumblr for $1.1 billion and the gaming platform PlayerScale, Yahoo! is reaching into its deep pockets once again.
According to the latest rumors, the Internet giant placed a bid between $600 and $800 million to buy the video-streaming company Hulu. The price Yahoo! is willing to pay varies on several factors – The length of the licensing rights, and the influence the current owners of Hulu after the sale.
By the looks of it, Yahoo! is not the only company interested in Hulu. Other companies like The Cherin Group, partners with Providence Equity, Guggenheim digital, William Morris Endeavor, and many more have also placed bids to buy video-streaming firm.
Under the management of President and CEO Marissa Mayer, Yahoo! has pushed forward several key investments. According to the rumors, the next step in the company would be the acquisition of a mobile and communications asset. It's expected to cost Yahoo! around $350 million to find and acquire such a property.
Both Yahoo! and Hulu have not yet released any formal statements regarding any business transactions between them.