Microsoft drops out of Hulu loop and now web portal Yahoo has stepped up to the plate with $2 billion if it could get a content guarantee from Hulu’s media owners that it would have exclusive access to their content for four or five years. Hulu’s owners considered for an earlier share sale and other financial data will be provided to bidders who sign a non-disclosure agreemen……………..
Yahoo would pay up to $2 billion to buy Web TV site Hulu from its current owners, if the deal came with four or five years of exclusive access to current TV shows and older movies and Business Insider said that Hulu‘s owners would have to guarantee the exclusive access before Yahoo’s corporate development people would present such a deal to their board of directors. Hulu‘s owners have reportedly been willing to offer the five years of access but only two years of exclusivity, according to Bloomberg, citing two people with knowledge of the situation. The shorter exclusivity period would mean that TV networks would be able to offer shows on their own sites for a longer period of time. And without the full package of five years of exclusive access, Hulu is not worth anything, Business Insider’s source said. A slew of potential buyers have reportedly been talking to Hulu about grabbing the company from its current owners–Walt Disney, News Corp., Comcast and equity firm Providence Equity Partners. The talks have taken place amid comments earlier this month by Disney CEO Robert Iger that its owners are committed to selling Hulu, according to The Wall Street Journal. Reports have pointed to Google, Amazon and Microsoft as eager parties. Yahoo seemed to kick off the bidding in June with an initial buyout offer. Since then, though, a host of other suitors have also apparently been wooing the online video service. Microsoft has reportedly told Hulu that it’s decided not to continue into the next round of bidding, according to Bloomberg, citing information from a person with knowledge of the matter. However, that person didn’t rule out the possibility that Microsoft could jump back into the bidding later on. Hulu‘s investment bankers at Morgan Stanley and Guggenheim Partners had met with Microsoft over the past few weeks to try to land an offer, added Bloomberg.