Yahoo planning Hulu bid for up to $800 million, cheaper than Tumblr
Yahoo's web-based shopping spree continues, with Hulu being next in line for Yahoo's possible purchasing. Rumours point to a bid for the video streaming site being in the $600-800 million range.
Why the range of prices? Yahoo is one of many current bidders for Hulu and the different prices relate to different buying circumstances. On top of this, Yahoo is also rumoured to be planning on buying another two companies at $150 million and $200 million respectively, both in the communications market.
Clearly the company has plenty in the bank right now, only recently announcing a purchase of Tumblr for $1.1 billion. Yahoo promised "not to screw up" Tumblr after the buyout, leaving the majority of the website untouched and operating independently of Yahoo.
CEO Marissa Meyer is clearly going mergers and acquisitions mad. The attempted Hulu purchase is obviously part of getting Yahoo's video set-up sorted. The company did lose out to Google on purchasing YouTube several years ago and Hulu could help plug that gap.
Currently Hulu is owned by NewsCorp, Disney and Comcast. It was previously placed on the market in 2011 for a price of $2 billion, but bids never materialised. Yahoo had attempted to buy a stake in the French video site DailyMotion this month, but was blocked by the French government. Meetings with Hulu followed soon after.
Rumours suggest that Yahoo's Mayer is tied up dealing with Tumblr integration and that the possible Hulu buyout is being led by other members of the company. Given that Yahoo paid out more for Tumblr, the blogging platform is obviously as important as it gets for Yahoo in its redevelopment.