Yahoo seems to be on a buying frenzy. After the $1.1 billion acquisition offer to Tumblr, the ailing internet company has bid for video site Hulu.
According to a AllThingsD report, the bid was submitted yesterday morning. This move is followed by Hulu’s announcement of a bidding deadline of Wednesday for potential bidders.
Prior to Hulu, Yahoo had bid for French video streaming site Dailymotion. But the deal was blocked by the French government.
However, Yahoo is not the only bidder in the derby. Other players include Directv, Time Warner Cable, William Morris Endeavor, KKR, Guggenheim Digital, and The Chernin Group. The list may prolong with new entries.
In 2011, Hulu’s owners – News Corp., Disney and Comcast – put the company up for sale, but back tracked a few months later. Last month, former News Corp COO Peter Chernin rejuvenated the bidding by submitting an offer of $500 million for the video site with 3 years of content licenses from its owners.
The bidder list later grew to more than half a dozen names.
Source: AllThingsD
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