While it is said there are multiple bidders in the hunt to purchase Hulu, Yahoo is the name that seems to be coming up most frequently. The latest rumor is that the company has bid between $600 and $800 million for the streaming video service in an effort to cover multiple scenarios.
News that Yahoo is interested in purchasing Hulu first surfaced last Friday, and now it continues to linger on in the form of rumors to just how much was bid. This follows hot on the heels of Yahoo purchasing Tumblr last week for $1.1 billion dollars, so it would seem that the company is on a spending spree at the moment.
As opposed to the Tumblr purchase which was led by CEO Marissa Mayer, the bid for Hulu is said to be fronted by Ian Weingarten, VP of corporate development.
The potential hurdle here for Yahoo is that Hulu has turned down previous bids for a buyout between $500 and $600 million, and rumor is that anything under $1 billion isn’t really going to even be considered. While there is value in Hulu’s technology, it is minuscule compared to its licenses for the content it carries.
Bids were to be submitted by last Thursday, but it appears now that the deadline may be slightly more open ended as potential buyers try to figure out the true value of the service.