Yahoo! Enters The Fray In Bid To Acquire Hulu
Yahoo has been on an unprecedented spending spree, forking out $30 million for Summly, $1.1 billion for Tumblr, and countless other smaller purchases in 2013. So, when we hear that Yahoo may be in the running to buy up Hulu, it sure makes sense. Yahoo seems to be attempting to spend its way back into the mainstream, and picking up Hulu would launch it into the profitable video business -- Yahoo needs a YouTube of its own, and Hulu just might be it.
It's estimated that Yahoo is bidding between $600m and $800m for Hulu, but it's unclear if Hulu will accept. There's reason to believe that other suitors are out there with bids of their own, and the ownership group (which includes Disney, News Corp., and Comcast) is a complex one to wade through. If this goes down, Yahoo will be a shell of its former self, instead looking much more like a conglomerate of pieces cobbled together.