Yahoo hit the headlines recently with their $1.1 Billion acquisition of Tumblr. Marissa Mayer and her firm seemed excited at the prospects provided by the massive blogging platform and it seemed that the company might wait before it made another big purchase. However, recent rumors have proven that Yahoo may be looking to buy another well known internet platform. AllThingsD reported on May 7 that, “According to numerous sources close to the situation, Yahoo CEO Marissa Mayer recently met with top execs at Hulu, the premium video service whose big media company owners have been considering selling it for some months.” The story took a back seat because nothing was confirmed and the Tumblr purchase made headlines. Now AllThingsD has reported that the deal may still be play with a million dollar offer being made.
The report claims that, “According to numerous sources close to the situation, Yahoo has bid from $600 million to $800 million for the premium video site Hulu.
The reason for the wide range is due to the fact that the Silicon Valley Internet giant — similar to most bidders in the new effort to acquire Hulu — has proposed several different prices based on a variety of circumstances. That includes the length of the licensing rights for content and how much control the programming companies selling Hulu have over their media.”
This may not be the only deal that Yahoo and Mayer are working on and the story goes on to say that, “At the same time and separately, according to sources inside the company, Yahoo is also contemplating at least two other significant purchases — in the $150 million to $200 million range — each for a mobile and a communications company. ”
This would be an interesting move from Yahoo because they have just spent over a billion dollars on a much talked about Tumblr acquisition and many may be wondering if the fast pace of acquisitions may be too much for the technology firm to handle.
Yahoo will not have an easy time if its does try to go for a Hulu purchase because their are others circling the firm. According to AllThingsD, “Besides Yahoo, others interested in acquiring Hulu include: Separate bids from private equity firms KKR, Guggenheim Digital and Silver Lake Partners (in conjunction with Hollywood talent agency William Morris Endeavor); Time Warner Cable; Directv; and the Chernin Group.
There could still be others, of course, though a deadline for initial bids has passed. Interestingly, so far, neither Google nor Amazon have made official efforts, perhaps because the pair already have robust video platforms.
Chernin’s bid, as had been widely reported, started in the $500 million range, which is interesting since the longtime Hollywood executive was once the COO of News Corp. and was critical to Hulu’s creation.”
Source: AllThingsD, AllThingsD
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