Yahoo Said to Make Offer for Hulu as Bidding Escalates
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), Time Warner Cable Inc. (TWC), 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.