Bloomberg News

Yahoo Said to Make Offer for Hulu as Bidding Escalates

May 24, 2013

Yahoo! Inc. (YHOO) submitted an offer for Hulu LLC, the online video site, according to a person with knowledge of the situation, expanding the number of suitors for the service to at least seven.

Yahoo, which said this week it’s buying Tumblr Inc. for $1.1 billion, made the offer today, said the person, who sought anonymity because the bids aren’t public. The value of Yahoo’s offer wasn’t immediately known.

Meredith Kendall, a spokesman for Los Angeles-based Hulu, declined to comment, as did Sara Gorman, a spokeswoman for Sunnyvale, California-based Yahoo. The technology blog AllThingsD reported Yahoo’s bid earlier today. Hulu is owned by News Corp., Walt Disney Co. and Comcast Corp.

Other bidders include KKR & Co., DirecTV (DTV:US), Time Warner Cable Inc. (TWC:US), Guggenheim Digital, the Chernin Group LLC and a joint offer from Silver Lake Management LLC and talent agency William Morris Endeavor Entertainment LLC, people with knowledge of the situation said.

To contact the reporters on this story: Andy Fixmer in Los Angeles at afixmer@bloomberg.net; Douglas MacMillan in San Francisco at dmacmillan3@bloomberg.net

To contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net; Anthony Palazzo at apalazzo@bloomberg.net


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Companies Mentioned

  • DTV
    (DIRECTV)
    • $85.47 USD
    • 0.28
    • 0.33%
  • TWC
    (Time Warner Cable Inc)
    • $149.31 USD
    • 2.96
    • 1.98%
Market data is delayed at least 15 minutes.
 
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