Days after buying social network Tumblr for
more than 1 billion dollars, struggling internet giant Yahoo is
eyeing another major purchase.
According to the Los Angeles Times on Friday, the web portal has submitted a bid for online TV service Hulu, which is seeking 1 billion dollars.
The service streams a wide range of TV shows to millions of users, with revenue from advertising and a monthly subscription service that grants access to shows and episodes that are not available for free.
The company has revenues of almost 700 million dollars and 4 million paying subscribers, and could give Yahoo a potential rival to YouTube and another source of advertising revenue.
Yahoo faces potential competition in bidding for Hulu from a number of private equity groups and Time Warner, according to the report.
Most Popular Stories
- Twitter Coming to Phones Without Internet
- Entravision Initiates Quarterly Cash Dividend
- Amanda Bynes Enrolls in California's FIDM
- Warner Bros. Unleashes 'Hobbit: Desolation of Smaug' Merchandise
- Shanghai Smog Forces Factory Shutdowns
- Obamacare Doing Just Fine, Ky. Governor Says
- How to Arm Yourself Against CryptoLocker Virus
- Eagle Deaths OK'd for Wind Power
- Consistent Hiring Points to Stronger Economy Ahead
- How Monthly Jobs Reports Move the Markets' Needle